Infinitum Asset Management LLC Has $38.21 Million Stock Position in ArriVent BioPharma, Inc. $AVBP

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 increased its stake in ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) by 25.7% during the first quarter, according to its most recent Form 13F filing with the 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 makes up 12.4% of Infinitum Asset Management LLC's holdings, making the stock its 2nd biggest holding. Infinitum Asset Management LLC owned 6.04% of ArriVent BioPharma worth $38,205,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP grew its stake in ArriVent BioPharma by 46.3% during the first quarter. Wellington Management Group LLP now owns 61,348 shares of the company's stock worth $1,134,000 after buying an additional 19,427 shares in the last quarter. Nuveen LLC acquired a new stake in shares of ArriVent BioPharma during the 1st quarter worth approximately $819,000. Vanguard Group Inc. raised its position in ArriVent BioPharma by 6.1% during the first quarter. Vanguard Group Inc. now owns 1,503,358 shares of the company's stock valued at $27,797,000 after purchasing an additional 86,067 shares in the last quarter. SG Americas Securities LLC lifted its stake in ArriVent BioPharma by 92.1% during the first quarter. SG Americas Securities LLC now owns 22,680 shares of the company's stock worth $419,000 after purchasing an additional 10,873 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of ArriVent BioPharma by 3,730.0% in the 1st quarter. GAMMA Investing LLC now owns 2,681 shares of the company's stock valued at $500,000 after purchasing an additional 2,611 shares in the last quarter. Institutional investors own 9.48% of the company's stock.

ArriVent BioPharma Trading Up 2.4%

NASDAQ:AVBP traded up $0.47 during trading hours on Friday, hitting $19.49. 104,637 shares of the company were exchanged, compared to its average volume of 260,695. The company has a fifty day simple moving average of $19.95 and a 200 day simple moving average of $20.51. The stock has a market capitalization of $790.51 million, a price-to-earnings ratio of -4.85 and a beta of 1.17. ArriVent BioPharma, Inc. has a one year low of $15.47 and a one year high of $36.37.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AVBP shares. B. Riley raised ArriVent BioPharma to a "strong-buy" rating in a report on Monday, August 25th. Guggenheim reissued a "buy" rating and set a $45.00 target price on shares of ArriVent BioPharma in a research note on Tuesday, June 24th. Jones Trading started coverage on shares of ArriVent BioPharma in a report on Tuesday, May 20th. They issued a "buy" rating and a $40.00 target price for the company. Zacks Research raised shares of ArriVent BioPharma from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Finally, The Goldman Sachs Group upgraded shares of ArriVent BioPharma to a "buy" rating and set a $33.00 price objective for the company in a research report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $39.14.

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.