Seven Fleet Capital Management LP Has $8.57 Million Stock Holdings in ArriVent BioPharma, Inc. $AVBP

Key Points

• Seven Fleet Capital Management increased its ArriVent BioPharma stake by 390.7% in the second quarter, owning 246,606 shares valued at approximately $8.57 million, or 0.50% of the company.
• Analyst sentiment is broadly positive, with eight Buy ratings, one Hold and one Sell; the consensus rating is “Moderate Buy” with a target price of $44.86.
• AVBP opened at $30.95 and has a $1.53 billion market capitalization. The company reported a quarterly loss of $1.05 per share, missing the $0.99 analyst estimate.

Seven Fleet Capital Management LP boosted its stake in ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) by 390.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 246,606 shares of the company's stock after purchasing an additional 196,354 shares during the period. ArriVent BioPharma comprises about 1.4% of Seven Fleet Capital Management LP's holdings, making the stock its 15th largest holding. Seven Fleet Capital Management LP owned about 0.50% of ArriVent BioPharma worth $8,567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in AVBP. Quantbot Technologies LP bought a new stake in shares of ArriVent BioPharma during the second quarter worth $59,000. Russell Investments Group Ltd. boosted its holdings in shares of ArriVent BioPharma by 9,747.6% during the 3rd 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 in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of ArriVent BioPharma by 31.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company's stock valued at $56,000 after acquiring an additional 609 shares in the last quarter. Group One Trading LLC bought a new stake in ArriVent BioPharma during the 4th quarter worth $57,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in ArriVent BioPharma by 696.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,258 shares of the company's stock worth $60,000 after acquiring an additional 2,849 shares during the last quarter. Institutional investors and hedge funds own 9.48% of the company's stock.

Analyst Upgrades and Downgrades

AVBP has been the subject of several research reports. Citigroup dropped their target price on ArriVent BioPharma from $43.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, August 13th. HC Wainwright upped their price objective on ArriVent BioPharma from $44.00 to $47.00 and gave the company a "buy" rating in a research note on Monday, August 17th. Weiss Ratings reiterated a "sell (d-)" rating on shares of ArriVent BioPharma in a research report on Friday, July 17th. Truist Financial boosted their target price on shares of ArriVent BioPharma from $43.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, May 29th. Finally, Guggenheim restated a "buy" rating and issued a $45.00 price target on shares of ArriVent BioPharma in a research report on Thursday, August 13th. 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $44.86.

ArriVent BioPharma Trading Down 0.3%

NASDAQ AVBP opened at $30.95 on Friday. The business's 50-day moving average price is $31.34 and its two-hundred day moving average price is $28.65. ArriVent BioPharma, Inc. has a 12 month low of $17.00 and a 12 month high of $35.83. The firm has a market capitalization of $1.53 billion, a PE ratio of -8.55 and a beta of 1.35.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.99) by ($0.06). As a group, analysts forecast that ArriVent BioPharma, Inc. will post -4.01 earnings per share for the current fiscal year.

ArriVent BioPharma 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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