ArriVent BioPharma, Inc. (NASDAQ:AVBP) Shares Bought by Novo Holdings A S

Novo Holdings A S lifted its holdings in ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,520,627 shares of the company's stock after buying an additional 15,312 shares during the period. ArriVent BioPharma comprises 2.5% of Novo Holdings A S's holdings, making the stock its 13th largest holding. Novo Holdings A S owned approximately 4.51% of ArriVent BioPharma worth $40,510,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AVBP. MetLife Investment Management LLC grew its stake in shares of ArriVent BioPharma by 6.8% during the fourth quarter. MetLife Investment Management LLC now owns 17,460 shares of the company's stock valued at $465,000 after buying an additional 1,110 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in ArriVent BioPharma in the 4th quarter valued at $31,000. Tower Research Capital LLC TRC increased its stake 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 purchasing an additional 1,416 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of ArriVent BioPharma by 17.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,965 shares of the company's stock worth $293,000 after purchasing an additional 1,620 shares during the last quarter. Finally, New York State Common Retirement Fund grew its holdings in shares of 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 purchasing an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 9.48% of the company's stock.

Analyst Ratings Changes

AVBP has been the topic of a number of research analyst reports. Guggenheim initiated coverage on shares of ArriVent BioPharma in a research note on Monday, March 10th. They issued a "buy" rating and a $45.00 target price on the stock. HC Wainwright restated a "buy" rating and set a $39.00 price objective on shares of ArriVent BioPharma in a report on Friday, March 7th. Finally, B. Riley began coverage on ArriVent BioPharma in a research report on Thursday, March 20th. They set a "buy" rating and a $37.00 target price for the company. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ArriVent BioPharma presently has an average rating of "Buy" and an average price target of $39.00.

ArriVent BioPharma Price Performance

Shares of AVBP stock traded down $1.29 during mid-day trading on Tuesday, hitting $19.52. 72,704 shares of the stock traded hands, compared to its average volume of 172,164. The stock has a market cap of $664.56 million, a P/E ratio of -7.60 and a beta of 1.47. The stock's fifty day moving average is $19.76 and its two-hundred day moving average is $25.12. ArriVent BioPharma, Inc. has a 52-week low of $15.47 and a 52-week high of $36.37.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.18. As a group, equities analysts forecast that ArriVent BioPharma, Inc. will post -2.74 EPS for the current fiscal year.

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.