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

SG Americas Securities LLC grew its position in ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) by 92.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 22,680 shares of the company's stock after buying an additional 10,873 shares during the period. SG Americas Securities LLC owned 0.07% of ArriVent BioPharma worth $419,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVBP. 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 valued at $500,000 after acquiring an additional 2,611 shares during the last quarter. Wellington Management Group LLP acquired a new position in ArriVent BioPharma during the 4th quarter valued at about $1,117,000. California State Teachers Retirement System boosted its stake in shares of ArriVent BioPharma by 561.3% in the 4th quarter. California State Teachers Retirement System now owns 13,649 shares of the company's stock valued at $364,000 after purchasing an additional 11,585 shares during the last quarter. Infinitum Asset Management LLC acquired a new stake in shares of ArriVent BioPharma during the 4th quarter worth approximately $43,794,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of ArriVent BioPharma during the 4th quarter worth approximately $218,000. Institutional investors own 9.48% of the company's stock.

ArriVent BioPharma Trading Up 0.4%

Shares of AVBP stock traded up $0.10 on Friday, hitting $22.91. The stock had a trading volume of 876,062 shares, compared to its average volume of 221,050. ArriVent BioPharma, Inc. has a twelve month low of $15.47 and a twelve month high of $36.37. The company has a fifty day moving average price of $21.66 and a two-hundred day moving average price of $22.96. The firm has a market cap of $783.75 million, a P/E ratio of -6.08 and a beta of 1.26.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last posted its 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, analysts expect that ArriVent BioPharma, Inc. will post -2.74 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on AVBP. B. Riley assumed coverage on shares of ArriVent BioPharma in a report on Thursday, March 20th. They issued a "buy" rating and a $37.00 price objective on the stock. Jones Trading began coverage on ArriVent BioPharma in a research note on Tuesday, May 20th. They issued a "buy" rating and a $40.00 price target on the stock. HC Wainwright raised their price target on ArriVent BioPharma from $39.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Oppenheimer reaffirmed an "outperform" rating and set a $44.00 price objective (up from $39.00) on shares of ArriVent BioPharma in a research note on Tuesday. Finally, Guggenheim reissued a "buy" rating and issued a $45.00 target price on shares of ArriVent BioPharma in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.