ArriVent BioPharma (NASDAQ:AVBP) Shares Gap Up to $20.15

ArriVent BioPharma, Inc. (NASDAQ:AVBP)’s share price gapped up before the market opened on Friday . The stock had previously closed at $20.15, but opened at $20.85. ArriVent BioPharma shares last traded at $20.44, with a volume of 27,401 shares changing hands.

Wall Street Analysts Forecast Growth

AVBP has been the topic of several research reports. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of ArriVent BioPharma in a report on Thursday, May 9th. The Goldman Sachs Group began coverage on shares of ArriVent BioPharma in a report on Tuesday, February 20th. They set a “buy” rating and a $27.00 price target on the stock. Jefferies Financial Group began coverage on shares of ArriVent BioPharma in a research report on Tuesday, February 20th. They set a “buy” rating and a $35.00 target price on the stock. Finally, Citigroup began coverage on shares of ArriVent BioPharma in a research report on Tuesday, February 20th. They set a “buy” rating and a $30.00 target price on the stock.

ArriVent BioPharma Stock Performance

The business has a 50-day moving average of $17.61.

Institutional Investors Weigh In On ArriVent BioPharma

Several hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets acquired a new position in shares of ArriVent BioPharma in the 1st quarter worth approximately $83,000. American International Group Inc. acquired a new position in shares of ArriVent BioPharma in the 1st quarter worth approximately $87,000. Blackstone Inc. acquired a new position in shares of ArriVent BioPharma in the 1st quarter worth approximately $446,000. Altitude Crest Partners Inc. acquired a new position in shares of ArriVent BioPharma in the 1st quarter worth approximately $9,922,000. Finally, Vanguard Group Inc. acquired a new position in shares of ArriVent BioPharma in the 1st quarter worth approximately $11,586,000. 9.48% of the stock is currently owned by institutional investors and hedge funds.

About ArriVent BioPharma

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.