Wellington Management Group LLP Acquires Shares of 41,921 ArriVent BioPharma, Inc. (NASDAQ:AVBP)

Wellington Management Group LLP acquired a new stake in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 41,921 shares of the company's stock, valued at approximately $1,117,000. Wellington Management Group LLP owned 0.12% of ArriVent BioPharma as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in ArriVent BioPharma during the fourth quarter valued at approximately $31,000. Tower Research Capital LLC TRC raised its position in ArriVent BioPharma by 773.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company's stock worth $43,000 after acquiring an additional 1,416 shares during the period. Virtus ETF Advisers LLC bought a new position in ArriVent BioPharma in the fourth quarter worth approximately $73,000. KLP Kapitalforvaltning AS bought a new position in ArriVent BioPharma in the fourth quarter worth approximately $83,000. Finally, New York State Common Retirement Fund raised its position in ArriVent BioPharma by 34.6% in the fourth quarter. New York State Common Retirement Fund now owns 7,783 shares of the company's stock worth $207,000 after acquiring an additional 2,000 shares during the period. Institutional investors own 9.48% of the company's stock.

ArriVent BioPharma Trading Up 0.2%

AVBP traded up $0.05 during trading on Friday, hitting $23.52. 219,200 shares of the company traded hands, compared to its average volume of 196,344. ArriVent BioPharma, Inc. has a 1 year low of $15.47 and a 1 year high of $36.37. The stock's 50-day simple moving average is $19.73 and its two-hundred day simple moving average is $23.43. The company has a market cap of $804.69 million, a PE ratio of -6.24 and a beta of 1.26.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($1.90) EPS for the quarter, missing the consensus estimate of ($0.66) by ($1.24). Equities analysts expect that ArriVent BioPharma, Inc. will post -2.74 EPS for the current year.

Analyst Ratings Changes

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

ArriVent BioPharma 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.