California State Teachers Retirement System Buys 11,585 Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP)

California State Teachers Retirement System boosted its holdings in ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) by 561.3% during the 4th quarter, according to the company in its most recent filing with the SEC. 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 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of ArriVent BioPharma during the fourth quarter valued at approximately $31,000. Wellington Management Group LLP purchased a new stake in shares of ArriVent BioPharma during the fourth quarter valued at approximately $1,117,000. Barclays PLC increased its position in shares of ArriVent BioPharma by 28.8% during the fourth quarter. Barclays PLC now owns 53,499 shares of the company's stock valued at $1,425,000 after acquiring an additional 11,977 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of ArriVent BioPharma by 8.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,114 shares of the company's stock valued at $456,000 after acquiring an additional 1,327 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of ArriVent BioPharma by 9.1% during the fourth quarter. Rhumbline Advisers now owns 36,690 shares of the company's stock valued at $977,000 after acquiring an additional 3,069 shares during the last quarter. Institutional investors own 9.48% of the company's stock.

Wall Street Analyst Weigh In

AVBP has been the subject of a number of research analyst reports. Wall Street Zen downgraded ArriVent BioPharma from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. HC Wainwright increased their price target on ArriVent BioPharma from $39.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. B. Riley initiated coverage on ArriVent BioPharma in a research report on Thursday, March 20th. They set a "buy" rating and a $37.00 price target for the company. Jones Trading initiated coverage on ArriVent BioPharma in a research report on Tuesday, May 20th. They set a "buy" rating and a $40.00 price target for the company. Finally, Guggenheim initiated coverage on ArriVent BioPharma in a research report on Monday, March 10th. They set a "buy" rating and a $45.00 price target for the company. One analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $39.29.

ArriVent BioPharma Stock Performance

NASDAQ AVBP traded down $0.36 on Friday, hitting $23.27. 441,320 shares of the stock traded hands, compared to its average volume of 201,868. The business's fifty day moving average is $20.41 and its two-hundred day moving average is $23.34. ArriVent BioPharma, Inc. has a 12 month low of $15.47 and a 12 month high of $36.37. The firm has a market capitalization of $796.14 million, a price-to-earnings ratio of -6.17 and a beta of 1.26.

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

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.