Octagon Capital Advisors LP grew its holdings in ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) by 4.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,059,387 shares of the company's stock after acquiring an additional 83,000 shares during the quarter. ArriVent BioPharma comprises 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 SEC filing.
Several other hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of ArriVent BioPharma in the fourth quarter worth $31,000. Tower Research Capital LLC TRC raised its holdings in ArriVent BioPharma by 773.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company's stock valued at $43,000 after buying an additional 1,416 shares in the last quarter. Virtus ETF Advisers LLC bought a new position in ArriVent BioPharma during the fourth quarter valued at about $73,000. KLP Kapitalforvaltning AS bought a new position in shares of ArriVent BioPharma during the 4th quarter worth approximately $83,000. Finally, China Universal Asset Management Co. Ltd. bought a new position in ArriVent BioPharma in the 4th quarter valued at $190,000. Hedge funds and other institutional investors own 9.48% of the company's stock.
Analysts Set New Price Targets
A number of research firms have recently issued reports on AVBP. HC Wainwright reiterated a "buy" rating and issued a $39.00 price objective on shares of ArriVent BioPharma in a report on Friday, March 7th. Guggenheim started coverage on shares of ArriVent BioPharma in a research report on Monday, March 10th. They issued a "buy" rating and a $45.00 price target for the company. Finally, B. Riley began coverage on shares of ArriVent BioPharma in a research note on Thursday, March 20th. They issued a "buy" rating and a $37.00 target price on the stock. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ArriVent BioPharma presently has a consensus rating of "Buy" and a consensus price target of $39.00.
Read Our Latest Stock Report on AVBP
ArriVent BioPharma Stock Performance
AVBP stock opened at $19.99 on Tuesday. The firm's 50 day moving average price is $19.48 and its 200-day moving average price is $24.76. ArriVent BioPharma, Inc. has a one year low of $15.47 and a one year high of $36.37. The firm has a market cap of $680.56 million, a PE ratio of -7.78 and a beta of 1.47.
ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($1.90) EPS for the quarter, missing the consensus estimate of ($0.66) by ($1.24). Equities research analysts predict that ArriVent BioPharma, Inc. will post -2.74 EPS for the current fiscal year.
ArriVent BioPharma Company Profile
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Free Report)
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.
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