Stock Traders Purchase High Volume of Call Options on ArriVent BioPharma (NASDAQ:AVBP)

ArriVent BioPharma, Inc. (NASDAQ:AVBP) saw some unusual options trading activity on Monday. Stock traders bought 6,424 call options on the stock. This represents an increase of approximately 1,214% compared to the average volume of 489 call options.

ArriVent BioPharma Price Performance

Shares of AVBP traded up $0.84 during midday trading on Monday, reaching $32.58. The stock had a trading volume of 227,266 shares, compared to its average volume of 500,425. ArriVent BioPharma has a 1-year low of $16.10 and a 1-year high of $34.06. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -9.37 and a beta of 1.41. The company’s fifty day simple moving average is $29.36 and its two-hundred day simple moving average is $25.06.

ArriVent BioPharma (NASDAQ:AVBP) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.08). On average, sell-side analysts forecast that ArriVent BioPharma will post -3.9 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AVBP. Infinitum Asset Management LLC raised its position in ArriVent BioPharma by 6.6% during the 4th quarter. Infinitum Asset Management LLC now owns 4,123,923 shares of the company’s stock worth $82,973,000 after buying an additional 255,000 shares during the last quarter. Suvretta Capital Management LLC raised its holdings in ArriVent BioPharma by 10.9% during the fourth quarter. Suvretta Capital Management LLC now owns 4,106,035 shares of the company’s stock worth $82,613,000 after purchasing an additional 402,583 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of ArriVent BioPharma by 36.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,029,531 shares of the company’s stock worth $37,445,000 after buying an additional 545,991 shares in the last quarter. State Street Corp lifted its holdings in shares of ArriVent BioPharma by 6.3% in the fourth quarter. State Street Corp now owns 1,091,980 shares of the company’s stock valued at $21,971,000 after purchasing an additional 64,352 shares in the last quarter. Finally, Vivo Capital LLC acquired a new stake in ArriVent BioPharma during the 1st quarter valued at $20,438,000. 9.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Oppenheimer restated an “outperform” rating and issued a $50.00 price objective (up from $44.00) on shares of ArriVent BioPharma in a research report on Friday, March 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ArriVent BioPharma in a report on Monday, April 20th. HC Wainwright lifted their price target on ArriVent BioPharma from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Truist Financial upped their price objective on ArriVent BioPharma from $43.00 to $45.00 and gave the company a “buy” rating in a report on Friday, May 29th. Finally, BTIG Research initiated coverage on shares of ArriVent BioPharma in a report on Thursday, March 12th. They issued a “buy” rating and a $42.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, ArriVent BioPharma has a consensus rating of “Moderate Buy” and an average target price of $43.38.

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. In addition, the company develops Furmonertinib, a third-generation tyrosine kinase inhibitor that is in multiple clinical trials across a range of epidermal growth factor receptor mutations (EFGRm) in non-small cell lung cancer (NSCLC), including a phase 3 clinical trial for treatment of patients with metastatic EFGRm NSCLC; phase 1b clinical trial for treatment of patients with NSCLC with other EGFR mutations and NSCLC with HER2 Exon 20 insertion mutations; and ARR-002.