Vanguard Group Inc. Buys 86,067 Shares of ArriVent BioPharma, Inc. $AVBP

Key Points

• Vanguard Group Inc. increased its stake in ArriVent BioPharma by 6.1%, owning approximately 4.42% of the company, which is valued at about $27.8 million.
• Several other institutional investors also significantly boosted their positions in ArriVent BioPharma, with SG Americas Securities lifting its position by 92.1% during the same period.
• Analysts have mixed views on ArriVent BioPharma, with Guggenheim maintaining a "buy" rating and a price target of $45, while Wall Street Zen has downgraded the stock to a "strong sell."

Vanguard Group Inc. grew its holdings in ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) by 6.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,503,358 shares of the company's stock after purchasing an additional 86,067 shares during the period. Vanguard Group Inc. owned about 4.42% of ArriVent BioPharma worth $27,797,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of ArriVent BioPharma in the 4th quarter worth $218,000. Barclays PLC grew its holdings in shares of ArriVent BioPharma by 28.8% in the fourth quarter. Barclays PLC now owns 53,499 shares of the company's stock worth $1,425,000 after acquiring an additional 11,977 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of ArriVent BioPharma by 8.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,114 shares of the company's stock worth $456,000 after acquiring an additional 1,327 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of ArriVent BioPharma by 773.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company's stock worth $43,000 after acquiring an additional 1,416 shares during the period. Finally, California State Teachers Retirement System grew its holdings in shares of ArriVent BioPharma by 561.3% in the fourth quarter. California State Teachers Retirement System now owns 13,649 shares of the company's stock worth $364,000 after acquiring an additional 11,585 shares during the period. Institutional investors own 9.48% of the company's stock.

ArriVent BioPharma Trading Up 3.8%

Shares of NASDAQ:AVBP traded up $0.72 during mid-day trading on Tuesday, reaching $19.84. The stock had a trading volume of 346,343 shares, compared to its average volume of 266,485. The company has a market cap of $804.91 million, a P/E ratio of -4.94 and a beta of 1.17. ArriVent BioPharma, Inc. has a 1 year low of $15.47 and a 1 year high of $36.37. The business's 50 day moving average price is $20.27 and its 200 day moving average price is $20.81.

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

Analysts Set New Price Targets

Several analysts recently commented on AVBP shares. Jones Trading started coverage on ArriVent BioPharma in a report on Tuesday, May 20th. They issued a "buy" rating and a $40.00 price objective for the company. Wall Street Zen lowered ArriVent BioPharma from a "hold" rating to a "strong sell" rating in a report on Thursday, May 22nd. Zacks Research upgraded ArriVent BioPharma from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Oppenheimer reiterated an "outperform" rating and set a $44.00 target price (up from $39.00) on shares of ArriVent BioPharma in a research report on Tuesday, June 24th. Finally, B. Riley upgraded ArriVent BioPharma to a "strong-buy" rating in a research report on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, ArriVent BioPharma has a consensus rating of "Buy" and an average 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.