ArriVent BioPharma (NASDAQ:AVBP) Shares Gap Down – What’s Next?

ArriVent BioPharma, Inc. (NASDAQ:AVBP)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $24.92, but opened at $24.12. ArriVent BioPharma shares last traded at $23.97, with a volume of 4,184 shares trading hands.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and set a $36.00 target price on shares of ArriVent BioPharma in a research report on Friday, November 15th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $36.80.

ArriVent BioPharma Stock Down 3.7 %

The business has a fifty day simple moving average of $27.88 and a two-hundred day simple moving average of $25.73.

Hedge Funds Weigh In On ArriVent BioPharma

A number of hedge funds and other institutional investors have recently bought and sold shares of AVBP. Novo Holdings A S boosted its holdings in ArriVent BioPharma by 39.3% during the 2nd quarter. Novo Holdings A S now owns 1,500,000 shares of the company’s stock valued at $27,825,000 after acquiring an additional 422,860 shares during the period. Geode Capital Management LLC boosted its holdings in ArriVent BioPharma by 154.2% during the 3rd quarter. Geode Capital Management LLC now owns 597,165 shares of the company’s stock valued at $14,036,000 after acquiring an additional 362,221 shares during the period. State Street Corp boosted its stake in shares of ArriVent BioPharma by 210.4% in the 3rd quarter. State Street Corp now owns 476,809 shares of the company’s stock valued at $11,205,000 after buying an additional 323,186 shares during the period. FMR LLC boosted its stake in shares of ArriVent BioPharma by 8.7% in the 3rd quarter. FMR LLC now owns 2,119,695 shares of the company’s stock valued at $49,813,000 after buying an additional 169,514 shares during the period. Finally, Suvretta Capital Management LLC boosted its stake in shares of ArriVent BioPharma by 7.7% in the 3rd quarter. Suvretta Capital Management LLC now owns 1,845,162 shares of the company’s stock valued at $43,361,000 after buying an additional 132,459 shares during the period. 9.48% of the stock is currently owned by hedge funds and other institutional investors.

ArriVent BioPharma Company Profile

ArriVent BioPharma, Inc operates as a clinical-stage biopharmaceutical company that engages in the identification, development, and commercialization of medicines for the unmet medical needs of patients with cancers in the United States. It also engages in the development and commercialization of targeted cancer therapies for non-small cell lung cancer (NSCLC) and other solid tumors.