Wellington Management Group LLP Purchases New Holdings in ArriVent BioPharma, Inc. (NASDAQ:AVBP)

Wellington Management Group LLP purchased a new position in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 41,921 shares of the company's stock, valued at approximately $1,117,000. Wellington Management Group LLP owned about 0.12% of ArriVent BioPharma as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. MetLife Investment Management LLC increased its holdings in ArriVent BioPharma by 6.8% during the fourth quarter. MetLife Investment Management LLC now owns 17,460 shares of the company's stock worth $465,000 after buying an additional 1,110 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of ArriVent BioPharma in the 4th quarter valued at about $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of ArriVent BioPharma by 8.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,114 shares of the company's stock worth $456,000 after purchasing an additional 1,327 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of 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 purchasing an additional 1,416 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in ArriVent BioPharma by 17.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,965 shares of the company's stock valued at $293,000 after purchasing an additional 1,620 shares during the last quarter. Institutional investors own 9.48% of the company's stock.

ArriVent BioPharma Stock Performance

NASDAQ:AVBP traded up $0.90 during mid-day trading on Tuesday, hitting $24.50. 322,545 shares of the stock were exchanged, compared to its average volume of 197,361. The firm's 50-day simple moving average is $20.00 and its 200 day simple moving average is $23.41. The stock has a market capitalization of $838.22 million, a price-to-earnings ratio of -6.50 and a beta of 1.26. ArriVent BioPharma, Inc. has a fifty-two week low of $15.47 and a fifty-two week high of $36.37.

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 analysts' consensus estimates of ($0.66) by ($1.24). On average, analysts predict that ArriVent BioPharma, Inc. will post -2.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AVBP has been the topic of several research analyst reports. Jones Trading initiated coverage on ArriVent BioPharma in a research note on Tuesday, May 20th. They issued a "buy" rating and a $40.00 price objective on the stock. HC Wainwright boosted their target price on ArriVent BioPharma from $39.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. B. Riley assumed coverage on ArriVent BioPharma in a report on Thursday, March 20th. They set a "buy" rating and a $37.00 price target for the company. Wall Street Zen cut shares of ArriVent BioPharma from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. Finally, Guggenheim began coverage on shares of ArriVent BioPharma in a research report on Monday, March 10th. They issued a "buy" rating and a $45.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $39.29.

ArriVent BioPharma Company 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.