BNP Paribas Financial Markets Sells 18,665 Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP)

BNP Paribas Financial Markets reduced its stake in ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) by 85.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,300 shares of the company's stock after selling 18,665 shares during the period. BNP Paribas Financial Markets' holdings in ArriVent BioPharma were worth $88,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Novo Holdings A S increased its stake in shares of ArriVent BioPharma by 1.0% during the fourth quarter. Novo Holdings A S now owns 1,520,627 shares of the company's stock valued at $40,510,000 after buying an additional 15,312 shares during the period. Vanguard Group Inc. increased its stake in shares of ArriVent BioPharma by 5.3% during the fourth quarter. Vanguard Group Inc. now owns 1,417,291 shares of the company's stock valued at $37,757,000 after buying an additional 71,741 shares during the period. Northern Trust Corp increased its stake in shares of ArriVent BioPharma by 4.6% during the fourth quarter. Northern Trust Corp now owns 241,009 shares of the company's stock valued at $6,420,000 after buying an additional 10,498 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of ArriVent BioPharma by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 206,379 shares of the company's stock valued at $5,498,000 after buying an additional 4,011 shares during the period. Finally, Barclays PLC increased its stake 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 buying an additional 11,977 shares during the period. 9.48% of the stock is owned by hedge funds and other institutional investors.

ArriVent BioPharma Stock Performance

Shares of NASDAQ AVBP traded up $0.75 during mid-day trading on Thursday, hitting $23.47. 529,702 shares of the stock traded hands, compared to its average volume of 194,809. The stock has a fifty day moving average price of $19.62 and a 200-day moving average price of $23.50. ArriVent BioPharma, Inc. has a 52 week low of $15.47 and a 52 week high of $36.37. The company has a market cap of $802.98 million, a price-to-earnings ratio of -6.23 and a beta of 1.26.

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

Analyst Upgrades and Downgrades

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

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.