SG Americas Securities LLC Buys 10,873 Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP)

SG Americas Securities LLC boosted its stake in ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) by 92.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,680 shares of the company's stock after buying an additional 10,873 shares during the quarter. SG Americas Securities LLC owned approximately 0.07% of ArriVent BioPharma worth $419,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AVBP. Tower Research Capital LLC TRC raised its position in ArriVent BioPharma by 773.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company's stock valued at $43,000 after buying an additional 1,416 shares during the last quarter. Virtus ETF Advisers LLC purchased a new stake in ArriVent BioPharma in the 4th quarter valued at $73,000. KLP Kapitalforvaltning AS purchased a new stake in ArriVent BioPharma in the 4th quarter valued at $83,000. New York State Common Retirement Fund raised its position in ArriVent BioPharma by 34.6% in the 4th quarter. New York State Common Retirement Fund now owns 7,783 shares of the company's stock valued at $207,000 after buying an additional 2,000 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in ArriVent BioPharma in the 4th quarter valued at $218,000. 9.48% of the stock is owned by hedge funds and other institutional investors.

ArriVent BioPharma Trading Up 0.0%

Shares of AVBP stock traded up $0.01 on Thursday, hitting $22.81. 284,036 shares of the stock were exchanged, compared to its average volume of 217,655. The firm has a market capitalization of $780.33 million, a PE ratio of -6.05 and a beta of 1.26. ArriVent BioPharma, Inc. has a one year low of $15.47 and a one year high of $36.37. The firm's 50 day moving average is $21.47 and its two-hundred day moving average is $23.07.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($1.90) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($1.24). On average, sell-side analysts expect that ArriVent BioPharma, Inc. will post -2.74 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on AVBP. Oppenheimer reissued an "outperform" rating and issued a $44.00 price target (up from $39.00) on shares of ArriVent BioPharma in a research report on Tuesday. Wall Street Zen lowered ArriVent BioPharma from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. HC Wainwright raised their target price on ArriVent BioPharma from $39.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. B. Riley started coverage on ArriVent BioPharma in a research report on Thursday, March 20th. They set a "buy" rating and a $37.00 target price for the company. Finally, Jones Trading started coverage on ArriVent BioPharma in a research report on Tuesday, May 20th. They set a "buy" rating and a $40.00 target price for the company. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, ArriVent BioPharma currently has an average rating of "Moderate Buy" and an average price target of $40.00.

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.