Deutsche Bank AG Acquires Shares of 39,180 ArriVent BioPharma, Inc. $AVBP

Key Points

• Deutsche Bank initiated a position in ArriVent BioPharma, purchasing 39,180 shares valued at approximately $1.36 million, or 0.08% of the company. Institutional investors and hedge funds collectively own 9.48% of AVBP.
• Analyst sentiment remains broadly positive, with eight Buy ratings, one Hold and one Sell. The stock has an average “Moderate Buy” rating and an average price target of $44.86, well above its recent $30.17 price.
• ArriVent reported a quarterly loss of $1.05 per share, missing consensus estimates by $0.06. The clinical-stage biotech is developing targeted cancer therapies, including furmonertinib for EGFR-mutated non-small cell lung cancer.

Deutsche Bank AG bought a new position in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 39,180 shares of the company's stock, valued at approximately $1,361,000. Deutsche Bank AG owned 0.08% of ArriVent BioPharma at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings in shares of ArriVent BioPharma by 9,747.6% during the third quarter. Russell Investments Group Ltd. now owns 2,068 shares of the company's stock valued at $38,000 after acquiring an additional 2,047 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of ArriVent BioPharma by 31.0% in the second quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company's stock worth $56,000 after acquiring an additional 609 shares during the last quarter. Group One Trading LLC acquired a new stake in shares of ArriVent BioPharma in the fourth quarter worth approximately $57,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of ArriVent BioPharma by 696.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,258 shares of the company's stock worth $60,000 after purchasing an additional 2,849 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of ArriVent BioPharma by 45.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,743 shares of the company's stock worth $95,000 after purchasing an additional 1,485 shares in the last quarter. 9.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AVBP. Citigroup lowered their target price on shares of ArriVent BioPharma from $43.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, August 13th. BTIG Research reissued a "buy" rating and issued a $42.00 price target on shares of ArriVent BioPharma in a research note on Thursday, August 13th. Weiss Ratings restated a "sell (d-)" rating on shares of ArriVent BioPharma in a research report on Friday, July 17th. Guggenheim reaffirmed a "buy" rating and set a $45.00 price objective on shares of ArriVent BioPharma in a research note on Thursday, August 13th. Finally, Truist Financial increased their price objective on shares of ArriVent BioPharma from $43.00 to $45.00 and gave the company a "buy" rating in a report on Friday, May 29th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, ArriVent BioPharma presently has an average rating of "Moderate Buy" and an average target price of $44.86.

ArriVent BioPharma Stock Down 2.7%

AVBP opened at $30.17 on Friday. ArriVent BioPharma, Inc. has a 52 week low of $17.00 and a 52 week high of $35.83. The business has a fifty day simple moving average of $31.62 and a 200-day simple moving average of $28.35. The firm has a market cap of $1.49 billion, a P/E ratio of -8.33 and a beta of 1.36.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.06). Sell-side analysts expect that ArriVent BioPharma, Inc. will post -4.01 earnings per share for the current 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. In addition, the company develops Furmonertinib, a third-generation tyrosine kinase inhibitor that is in multiple clinical trials across a range of epidermal growth factor receptor mutations (EFGRm) in non-small cell lung cancer (NSCLC), including a phase 3 clinical trial for treatment of patients with metastatic EFGRm NSCLC; phase 1b clinical trial for treatment of patients with NSCLC with other EGFR mutations and NSCLC with HER2 Exon 20 insertion mutations; and ARR-002.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.