Nuveen LLC Makes New $819,000 Investment in ArriVent BioPharma, Inc. $AVBP

Nuveen LLC bought a new position in ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 44,282 shares of the company's stock, valued at approximately $819,000. Nuveen LLC owned 0.13% of ArriVent BioPharma as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of ArriVent BioPharma by 6.1% during the first quarter. Vanguard Group Inc. now owns 1,503,358 shares of the company's stock valued at $27,797,000 after buying an additional 86,067 shares during the period. SG Americas Securities LLC boosted its holdings in ArriVent BioPharma by 92.1% in the first quarter. SG Americas Securities LLC now owns 22,680 shares of the company's stock worth $419,000 after acquiring an additional 10,873 shares in the last quarter. GAMMA Investing LLC boosted its holdings in ArriVent BioPharma by 3,730.0% in the first quarter. GAMMA Investing LLC now owns 2,681 shares of the company's stock worth $500,000 after acquiring an additional 2,611 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of ArriVent BioPharma during the fourth quarter worth about $1,117,000. Finally, California State Teachers Retirement System lifted its holdings in shares of ArriVent BioPharma by 561.3% during the fourth quarter. California State Teachers Retirement System now owns 13,649 shares of the company's stock worth $364,000 after purchasing an additional 11,585 shares during the period. Hedge funds and other institutional investors own 9.48% of the company's stock.

ArriVent BioPharma Price Performance

Shares of AVBP stock traded up $0.28 on Thursday, hitting $19.52. The stock had a trading volume of 182,673 shares, compared to its average volume of 264,748. ArriVent BioPharma, Inc. has a 1 year low of $15.47 and a 1 year high of $36.37. The company's 50 day moving average price is $20.13 and its 200-day moving average price is $20.75.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.20). On average, sell-side analysts anticipate that ArriVent BioPharma, Inc. will post -2.74 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AVBP shares. Citigroup reiterated a "buy" rating and set a $33.00 price target (down from $40.00) on shares of ArriVent BioPharma in a research report on Tuesday, August 12th. Jones Trading assumed coverage on ArriVent BioPharma in a research report on Tuesday, May 20th. They issued a "buy" rating and a $40.00 price objective for the company. Wall Street Zen lowered ArriVent BioPharma from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 22nd. B. Riley raised ArriVent BioPharma to a "strong-buy" rating in a research note on Monday, August 25th. Finally, Zacks Research raised ArriVent BioPharma from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, ArriVent BioPharma currently has a consensus rating of "Buy" and an average price target of $39.14.

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.