ArriVent BioPharma, Inc. $AVBP Position Raised by Infinitum Asset Management LLC

Key Points

• Infinitum Asset Management LLC increased its stake in ArriVent BioPharma by 25.7%, making it the institutional investor's second largest position at $38,205,000.
• ArriVent BioPharma's recent stock performance shows a 3.4% increase, with the stock trading at $20.19 and a market cap of $819.11 million.
• Analysts have mixed opinions on the stock, with B. Riley upgrading it to a "strong-buy" and a consensus price target of $39.14 among several ratings.

Infinitum Asset Management LLC lifted its holdings in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) by 25.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,066,238 shares of the company's stock after purchasing an additional 422,315 shares during the period. ArriVent BioPharma comprises approximately 12.4% of Infinitum Asset Management LLC's investment portfolio, making the stock its 2nd largest holding. Infinitum Asset Management LLC owned 6.04% of ArriVent BioPharma worth $38,205,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its stake in ArriVent BioPharma by 773.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company's stock valued at $43,000 after acquiring an additional 1,416 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in ArriVent BioPharma by 17.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,965 shares of the company's stock valued at $293,000 after buying an additional 1,620 shares during the period. Voya Investment Management LLC purchased a new stake in shares of ArriVent BioPharma in the 4th quarter valued at about $223,000. Northern Trust Corp grew its stake in ArriVent BioPharma by 4.6% in the 4th quarter. Northern Trust Corp now owns 241,009 shares of the company's stock worth $6,420,000 after buying an additional 10,498 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in ArriVent BioPharma by 5.3% in the 4th quarter. Bank of America Corp DE now owns 45,544 shares of the company's stock worth $1,213,000 after buying an additional 2,279 shares in the last quarter. 9.48% of the stock is currently owned by hedge funds and other institutional investors.

ArriVent BioPharma Price Performance

AVBP traded down $0.95 during trading on Wednesday, hitting $18.87. 424,616 shares of the stock traded hands, compared to its average volume of 260,295. The firm has a market capitalization of $765.56 million, a P/E ratio of -4.69 and a beta of 1.17. The firm has a 50-day moving average of $20.03 and a 200 day moving average of $20.56. ArriVent BioPharma, Inc. has a 12-month low of $15.47 and a 12-month high of $36.37.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.20). As a group, equities analysts predict that ArriVent BioPharma, Inc. will post -2.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on AVBP. Wall Street Zen cut shares of ArriVent BioPharma from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 22nd. Guggenheim restated a "buy" rating and issued a $45.00 target price on shares of ArriVent BioPharma in a research report on Tuesday, June 24th. Oppenheimer restated an "outperform" rating and issued a $44.00 target price (up previously from $39.00) on shares of ArriVent BioPharma in a research report on Tuesday, June 24th. The Goldman Sachs Group upgraded ArriVent BioPharma to a "buy" rating and set a $33.00 target price for the company in a research report on Thursday, July 10th. Finally, Zacks Research raised shares of ArriVent BioPharma from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $39.14.

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.