ArriVent BioPharma, Inc. $AVBP Stock Holdings Lessened by Squarepoint Ops LLC

Key Points

• Squarepoint Ops LLC cut its ArriVent BioPharma stake by 68.4% in the second quarter, selling 37,888 shares and retaining 17,544 shares worth approximately $609,000.
• Despite the reduction, several major investors—including Hhlr Advisors, BlackRock, General Catalyst, Vivo Capital and Seven Fleet Capital—built positions. Institutional investors and hedge funds collectively own 9.48% of AVBP.
• Analysts remain broadly bullish, with eight Buy ratings and an average price target of $44.86 versus a recent share price of $28.90. The company reported a quarterly loss of $1.05 per share, missing expectations by $0.06.

Squarepoint Ops LLC cut its position in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) by 68.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,544 shares of the company's stock after selling 37,888 shares during the period. Squarepoint Ops LLC's holdings in ArriVent BioPharma were worth $609,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hhlr Advisors LTD. bought a new stake in ArriVent BioPharma during the second quarter valued at about $136,498,000. BlackRock Inc. bought a new stake in shares of ArriVent BioPharma in the 2nd quarter valued at approximately $112,919,000. General Catalyst Group Management LLC acquired a new stake in shares of ArriVent BioPharma in the 2nd quarter valued at $51,929,000. Vivo Capital LLC acquired a new stake in shares of ArriVent BioPharma during the first quarter worth approximately $20,438,000. Finally, Seven Fleet Capital Management LP raised its position in ArriVent BioPharma by 390.7% in the 2nd quarter. Seven Fleet Capital Management LP now owns 246,606 shares of the company's stock valued at $8,567,000 after purchasing an additional 196,354 shares during the last quarter. 9.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AVBP. BTIG Research reissued a "buy" rating and issued a $42.00 price target on shares of ArriVent BioPharma in a report on Thursday, August 13th. Guggenheim reiterated a "buy" rating and issued a $45.00 price target on shares of ArriVent BioPharma in a research report on Thursday, August 13th. HC Wainwright lifted their target price on ArriVent BioPharma from $44.00 to $47.00 and gave the stock a "buy" rating in a report on Monday, August 17th. Citigroup reduced their price target on shares of ArriVent BioPharma from $43.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, August 13th. Finally, Truist Financial upped their price objective on ArriVent BioPharma from $43.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, May 29th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $44.86.

ArriVent BioPharma Stock Up 1.9%

AVBP stock opened at $28.90 on Friday. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -7.98 and a beta of 1.35. ArriVent BioPharma, Inc. has a twelve month low of $17.00 and a twelve month high of $35.83. The business has a 50 day moving average price of $30.30 and a two-hundred day moving average price of $29.07.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.99) by ($0.06). On average, equities research analysts anticipate that ArriVent BioPharma, Inc. will post -4.01 EPS for the current fiscal year.

ArriVent BioPharma Company Profile

ArriVent BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing precision oncology medicines for patients with genetically defined cancers. The company's strategy is to identify promising therapies that have been developed or clinically validated in other markets and advance them through global development programs.

ArriVent's lead product candidate is furmonertinib, an oral, irreversible epidermal growth factor receptor (EGFR) tyrosine kinase inhibitor. The company is evaluating furmonertinib as a potential treatment for patients with EGFR-mutated non-small cell lung cancer, including tumors with EGFR exon 20 insertion mutations and other EGFR alterations.

ArriVent obtained exclusive development and commercialization rights for furmonertinib outside China through a collaboration with Allist Pharmaceuticals.

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