Tema ETFs LLC Invests $1.98 Million in ArriVent BioPharma, Inc. $AVBP

Key Points

• Tema ETFs LLC purchased 57,034 shares of ArriVent BioPharma worth approximately $1.98 million during the second quarter, giving it a 0.12% stake. Institutional investors collectively own 9.48% of the company.
• Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and an average price target of $44.83; targets range from $43 to $45, despite one sell rating.
• ArriVent’s shares opened at $31.46, while its latest quarterly loss of $1.05 per share missed expectations of $0.99. Analysts project a full-year loss of approximately $3.90 per share.

Tema ETFs LLC purchased a new position in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 57,034 shares of the company's stock, valued at approximately $1,981,000. Tema ETFs LLC owned about 0.12% of ArriVent BioPharma at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of AVBP. Vivo Capital LLC bought a new position in ArriVent BioPharma in the 1st quarter valued at $20,438,000. AIHC Capital Management Ltd bought a new stake in shares of ArriVent BioPharma during the fourth quarter worth $12,973,000. Vanguard Group Inc. increased its stake in shares of ArriVent BioPharma by 36.8% in the third quarter. Vanguard Group Inc. now owns 2,029,531 shares of the company's stock valued at $37,445,000 after buying an additional 545,991 shares in the last quarter. UBS Group AG increased its stake in shares of ArriVent BioPharma by 474.7% in the third quarter. UBS Group AG now owns 497,601 shares of the company's stock valued at $9,181,000 after buying an additional 411,013 shares in the last quarter. Finally, Suvretta Capital Management LLC increased its stake in shares of ArriVent BioPharma by 10.9% in the fourth quarter. Suvretta Capital Management LLC now owns 4,106,035 shares of the company's stock valued at $82,613,000 after buying an additional 402,583 shares in the last quarter. 9.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AVBP has been the topic of several research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of ArriVent BioPharma in a research report on Friday, July 17th. Citigroup lowered their price objective on shares of ArriVent BioPharma from $45.00 to $43.00 and set a "buy" rating for the company in a research report on Wednesday, May 13th. 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 research note on Friday, May 29th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of ArriVent BioPharma in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $44.83.

ArriVent BioPharma Stock Performance

NASDAQ AVBP opened at $31.46 on Thursday. The stock has a market capitalization of $1.47 billion, a P/E ratio of -9.07 and a beta of 1.36. ArriVent BioPharma, Inc. has a 52 week low of $16.65 and a 52 week high of $35.83. The stock has a fifty day moving average of $31.87 and a 200-day moving average of $27.77.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last issued its quarterly 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). Equities research analysts forecast that ArriVent BioPharma, Inc. will post -3.9 earnings per share for the current fiscal year.

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. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source