141,814 Shares in ArriVent BioPharma, Inc. $AVBP Bought by ADAR1 Capital Management LLC

Key Points

• ADAR1 Capital Management initiated a position in ArriVent BioPharma, purchasing 141,814 shares valued at approximately $3.27 million, or about 0.30% of the company.
• Other institutional investors also increased their holdings, though institutional ownership remains relatively limited at 9.48% of outstanding shares.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $44.83, compared with the stock’s recent price of $29.98; the company nevertheless reported a quarterly loss of $0.96 per share, missing estimates.

ADAR1 Capital Management LLC purchased a new position in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 141,814 shares of the company's stock, valued at approximately $3,272,000. ADAR1 Capital Management LLC owned approximately 0.30% of ArriVent BioPharma as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of ArriVent BioPharma by 27.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,006 shares of the company's stock worth $40,000 after buying an additional 438 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of ArriVent BioPharma by 0.7% during the fourth quarter. Wellington Management Group LLP now owns 82,278 shares of the company's stock worth $1,655,000 after acquiring an additional 532 shares in the last quarter. Woodline Partners LP grew its holdings in ArriVent BioPharma by 0.4% during the 1st quarter. Woodline Partners LP now owns 146,373 shares of the company's stock valued at $2,706,000 after buying an additional 576 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in ArriVent BioPharma by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,743 shares of the company's stock worth $297,000 after purchasing an additional 585 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in ArriVent BioPharma by 31.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company's stock worth $56,000 after acquiring an additional 609 shares during the last quarter. Institutional investors and hedge funds own 9.48% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on AVBP shares. Cantor Fitzgerald reiterated an "overweight" rating on shares of ArriVent BioPharma in a research report on Friday, May 22nd. Truist Financial lifted their price objective on ArriVent BioPharma from $43.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, May 29th. Citigroup lowered their price target on shares of ArriVent BioPharma from $45.00 to $43.00 and set a "buy" rating for the company in a research report on Wednesday, May 13th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ArriVent BioPharma in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $44.83.

ArriVent BioPharma Stock Down 0.6%

ArriVent BioPharma stock opened at $29.98 on Wednesday. ArriVent BioPharma, Inc. has a twelve month low of $16.10 and a twelve month high of $35.83. The company's 50-day moving average price is $31.32 and its 200-day moving average price is $27.07. The company has a market cap of $1.40 billion, a PE ratio of -8.64 and a beta of 1.29.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.96) earnings per share for the quarter, missing analysts' consensus estimates of ($0.88) by ($0.08). As a group, sell-side analysts expect that ArriVent BioPharma, Inc. will post -3.9 earnings per share for the current fiscal year.

ArriVent BioPharma 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. 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.

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