California State Teachers Retirement System Has $364,000 Stake in ArriVent BioPharma, Inc. (NASDAQ:AVBP)

California State Teachers Retirement System lifted its holdings in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) by 561.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,649 shares of the company's stock after acquiring an additional 11,585 shares during the quarter. California State Teachers Retirement System's holdings in ArriVent BioPharma were worth $364,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Suvretta Capital Management LLC lifted its holdings in shares of ArriVent BioPharma by 21.7% during the 4th quarter. Suvretta Capital Management LLC now owns 2,246,000 shares of the company's stock valued at $59,833,000 after acquiring an additional 400,838 shares in the last quarter. Octagon Capital Advisors LP lifted its holdings in ArriVent BioPharma by 4.2% in the 4th quarter. Octagon Capital Advisors LP now owns 2,059,387 shares of the company's stock worth $54,862,000 after buying an additional 83,000 shares in the last quarter. Infinitum Asset Management LLC acquired a new position in ArriVent BioPharma in the 4th quarter worth $43,794,000. Novo Holdings A S lifted its holdings in ArriVent BioPharma by 1.0% in the 4th quarter. Novo Holdings A S now owns 1,520,627 shares of the company's stock worth $40,510,000 after buying an additional 15,312 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in ArriVent BioPharma by 5.3% in the 4th quarter. Vanguard Group Inc. now owns 1,417,291 shares of the company's stock worth $37,757,000 after buying an additional 71,741 shares in the last quarter. Institutional investors and hedge funds own 9.48% of the company's stock.

ArriVent BioPharma Stock Performance

Shares of ArriVent BioPharma stock traded down $0.36 during midday trading on Friday, reaching $23.27. 441,320 shares of the company's stock traded hands, compared to its average volume of 202,498. The company has a market cap of $796.14 million, a price-to-earnings ratio of -6.17 and a beta of 1.26. The company's 50 day simple moving average is $20.41 and its 200 day simple moving average is $23.30. ArriVent BioPharma, Inc. has a 52 week low of $15.47 and a 52 week high of $36.37.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($1.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($1.24). As a group, equities research analysts predict that ArriVent BioPharma, Inc. will post -2.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AVBP has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of ArriVent BioPharma from a "hold" rating to a "strong sell" rating in a report on Thursday, May 22nd. Guggenheim initiated coverage on shares of ArriVent BioPharma in a report on Monday, March 10th. They issued a "buy" rating and a $45.00 price objective on the stock. B. Riley initiated coverage on shares of ArriVent BioPharma in a report on Thursday, March 20th. They issued a "buy" rating and a $37.00 price objective on the stock. Jones Trading initiated coverage on shares of ArriVent BioPharma in a report on Tuesday, May 20th. They issued a "buy" rating and a $40.00 price objective on the stock. Finally, HC Wainwright boosted their price objective on shares of ArriVent BioPharma from $39.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $39.29.

ArriVent BioPharma Company 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.