Vivo Capital LLC Takes $20.44 Million Position in ArriVent BioPharma, Inc. $AVBP

Key Points

• Vivo Capital acquired 885,916 shares of ArriVent BioPharma, worth approximately $20.44 million, giving it a 1.9% stake and making AVBP its 20th-largest portfolio holding. Institutional investors collectively own 9.48% of the company.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $44.83; individual targets range from $43 to $45, though one firm rated the stock “sell.”
• AVBP shares opened at $30.66, while the company recently reported a quarterly loss of $0.96 per share, missing estimates by $0.08. ArriVent is developing targeted cancer therapies, including furmonertinib for EGFR-mutated non-small cell lung cancer.

Vivo Capital LLC acquired a new stake in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 885,916 shares of the company's stock, valued at approximately $20,438,000. ArriVent BioPharma makes up about 1.7% of Vivo Capital LLC's investment portfolio, making the stock its 20th largest position. Vivo Capital LLC owned 1.90% of ArriVent BioPharma as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AVBP. Dynamic Technology Lab Private Ltd bought a new position in ArriVent BioPharma in the first quarter worth approximately $266,000. Woodline Partners LP boosted its position in ArriVent BioPharma by 0.4% during the 1st quarter. Woodline Partners LP now owns 146,373 shares of the company's stock valued at $2,706,000 after acquiring an additional 576 shares in the last quarter. Jane Street Group LLC bought a new stake in ArriVent BioPharma during the 1st quarter valued at $189,000. Legal & General Group Plc boosted its position in ArriVent BioPharma by 8.8% during the 2nd quarter. Legal & General Group Plc now owns 14,790 shares of the company's stock valued at $322,000 after acquiring an additional 1,197 shares in the last quarter. Finally, Walleye Capital LLC purchased a new position in shares of ArriVent BioPharma in the 2nd quarter valued at $206,000. 9.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AVBP shares. Citigroup decreased their price objective on ArriVent BioPharma from $45.00 to $43.00 and set a "buy" rating for the company in a research note on Wednesday, May 13th. Truist Financial lifted their target price on ArriVent BioPharma from $43.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, May 29th. Cantor Fitzgerald reiterated an "overweight" rating on shares of ArriVent BioPharma in a report on Friday, May 22nd. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of ArriVent BioPharma in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $44.83.

ArriVent BioPharma Trading Up 2.1%

Shares of AVBP stock opened at $30.66 on Friday. ArriVent BioPharma, Inc. has a 12-month low of $16.10 and a 12-month high of $35.83. The business's fifty day simple moving average is $31.45 and its 200-day simple moving average is $27.21. The company has a market cap of $1.43 billion, a PE ratio of -8.84 and a beta of 1.29.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.96) earnings per share for the quarter, missing analysts' consensus estimates of ($0.88) by ($0.08). On average, equities analysts forecast that ArriVent BioPharma, Inc. will post -3.9 earnings per share for the current 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.

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