Dimensional Fund Advisors LP Has $2.92 Million Stock Holdings in ArriVent BioPharma, Inc. $AVBP

Key Points

• Dimensional Fund Advisors increased its ArriVent BioPharma stake by 758.2% in the first quarter, holding 126,525 shares worth approximately $2.92 million. Institutional investors and hedge funds collectively own 9.48% of AVBP.
• Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $44.83. Targets range from $43 to $45, although Weiss Ratings reiterated a sell rating.
• AVBP opened at $31.46 and has a market capitalization of about $1.47 billion. ArriVent recently reported a quarterly loss of $1.05 per share, missing estimates by $0.06, while analysts expect a full-year loss of $3.90 per share.

Dimensional Fund Advisors LP lifted its stake in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) by 758.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,525 shares of the company's stock after acquiring an additional 111,782 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.27% of ArriVent BioPharma worth $2,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AIHC Capital Management Ltd bought a new position in ArriVent BioPharma in the 4th quarter worth approximately $12,973,000. Russell Investments Group Ltd. raised its position 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 buying an additional 2,047 shares during the last quarter. Barclays PLC lifted its holdings in shares of ArriVent BioPharma by 10.9% in the third quarter. Barclays PLC now owns 129,935 shares of the company's stock worth $2,397,000 after buying an additional 12,723 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of ArriVent BioPharma by 36.8% during the third quarter. Vanguard Group Inc. now owns 2,029,531 shares of the company's stock worth $37,445,000 after acquiring an additional 545,991 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of ArriVent BioPharma by 571.6% during the second quarter. Tower Research Capital LLC TRC now owns 6,669 shares of the company's stock worth $145,000 after acquiring an additional 5,676 shares during the last quarter. 9.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AVBP has been the topic of a number of research reports. Citigroup reduced their price target on shares of ArriVent BioPharma from $45.00 to $43.00 and set a "buy" rating on the stock in a report on Wednesday, May 13th. Cantor Fitzgerald restated an "overweight" rating on shares of ArriVent BioPharma in a research report on Friday, May 22nd. Truist Financial lifted their target price on ArriVent BioPharma from $43.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, May 29th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of ArriVent BioPharma in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $44.83.

ArriVent BioPharma Price Performance

ArriVent BioPharma stock opened at $31.46 on Thursday. ArriVent BioPharma, Inc. has a 1-year low of $16.65 and a 1-year high of $35.83. The firm has a market capitalization of $1.47 billion, a P/E ratio of -9.07 and a beta of 1.36. The company's 50-day moving average is $31.87 and its 200 day moving average is $27.77.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last announced its 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). Research analysts anticipate that ArriVent BioPharma, Inc. will post -3.9 earnings per share for the current fiscal year.

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. 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.

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