Octagon Capital Advisors LP Has $54.86 Million Stake in ArriVent BioPharma, Inc. (NASDAQ:AVBP)

Octagon Capital Advisors LP raised its stake in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,059,387 shares of the company's stock after buying an additional 83,000 shares during the quarter. ArriVent BioPharma comprises about 9.0% of Octagon Capital Advisors LP's investment portfolio, making the stock its 2nd biggest holding. Octagon Capital Advisors LP owned about 6.11% of ArriVent BioPharma worth $54,862,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in ArriVent BioPharma during the fourth quarter valued at $31,000. JPMorgan Chase & Co. raised its stake in ArriVent BioPharma by 183.2% during the third quarter. JPMorgan Chase & Co. now owns 12,445 shares of the company's stock valued at $292,000 after buying an additional 8,050 shares during the last quarter. Barclays PLC raised its stake in shares of ArriVent BioPharma by 1,124.8% in the third quarter. Barclays PLC now owns 41,522 shares of the company's stock worth $976,000 after purchasing an additional 38,132 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of ArriVent BioPharma in the fourth quarter worth $1,117,000. Finally, Rhumbline Advisers raised its stake in shares of ArriVent BioPharma by 9.1% in the fourth quarter. Rhumbline Advisers now owns 36,690 shares of the company's stock worth $977,000 after purchasing an additional 3,069 shares during the last quarter. Hedge funds and other institutional investors own 9.48% of the company's stock.

Analyst Ratings Changes

AVBP has been the subject of several recent analyst reports. B. Riley initiated coverage on ArriVent BioPharma in a research note on Thursday, March 20th. They issued a "buy" rating and a $37.00 price target for the company. HC Wainwright boosted their price target on ArriVent BioPharma from $39.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Guggenheim initiated coverage on ArriVent BioPharma in a research note on Monday, March 10th. They issued a "buy" rating and a $45.00 price target for the company. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $39.17.

ArriVent BioPharma Price Performance

ArriVent BioPharma stock traded up $0.12 during mid-day trading on Friday, reaching $19.36. 136,991 shares of the stock traded hands, compared to its average volume of 177,573. The stock has a market capitalization of $662.36 million, a PE ratio of -5.14 and a beta of 1.47. ArriVent BioPharma, Inc. has a 12-month low of $15.47 and a 12-month high of $36.37. The business's 50-day moving average is $19.25 and its 200-day moving average is $24.46.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($1.90) EPS for the quarter, missing analysts' consensus estimates of ($0.66) by ($1.24). Equities analysts anticipate that ArriVent BioPharma, Inc. will post -2.74 EPS for the current fiscal year.

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.