Woodline Partners LP Acquires 24,853 Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP)

Woodline Partners LP increased its stake in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) by 20.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,797 shares of the company's stock after buying an additional 24,853 shares during the period. Woodline Partners LP owned 0.43% of ArriVent BioPharma worth $3,884,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Suvretta Capital Management LLC lifted its position in ArriVent BioPharma by 21.7% during the 4th quarter. Suvretta Capital Management LLC now owns 2,246,000 shares of the company's stock worth $59,833,000 after buying an additional 400,838 shares in the last quarter. Rafferty Asset Management LLC lifted its position in ArriVent BioPharma by 186.3% during the 4th quarter. Rafferty Asset Management LLC now owns 27,299 shares of the company's stock worth $727,000 after buying an additional 17,763 shares in the last quarter. ProShare Advisors LLC acquired a new position in ArriVent BioPharma during the 4th quarter valued at about $254,000. Octagon Capital Advisors LP lifted its position in ArriVent BioPharma by 4.2% during the 4th quarter. Octagon Capital Advisors LP now owns 2,059,387 shares of the company's stock valued at $54,862,000 after purchasing an additional 83,000 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in 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 valued at $456,000 after purchasing an additional 1,327 shares during the period. Institutional investors and hedge funds own 9.48% of the company's stock.

ArriVent BioPharma Trading Up 2.1%

Shares of NASDAQ:AVBP traded up $0.43 during mid-day trading on Friday, reaching $21.43. The stock had a trading volume of 42,773 shares, compared to its average volume of 185,687. The firm has a market cap of $733.22 million, a PE ratio of -5.69 and a beta of 1.47. The firm has a 50 day simple moving average of $19.24 and a two-hundred day simple moving average of $23.74. ArriVent BioPharma, Inc. has a twelve month low of $15.47 and a twelve month high of $36.37.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last announced its quarterly 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, equities analysts anticipate that ArriVent BioPharma, Inc. will post -2.74 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on AVBP. B. Riley began coverage on shares of ArriVent BioPharma in a research report on Thursday, March 20th. They set a "buy" rating and a $37.00 target price on the stock. Guggenheim began coverage on shares of ArriVent BioPharma in a research report on Monday, March 10th. They set a "buy" rating and a $45.00 target price on the stock. Jones Trading began coverage on shares of ArriVent BioPharma in a research report on Tuesday, May 20th. They set a "buy" rating and a $40.00 target price on the stock. HC Wainwright upped their target price on shares of ArriVent BioPharma from $39.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Finally, Wall Street Zen downgraded shares of ArriVent BioPharma from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. One equities research 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.com, ArriVent BioPharma currently has a consensus rating of "Moderate Buy" and a consensus 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.