ArriVent BioPharma, Inc. (NASDAQ:AVBP) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. boosted its position in ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,417,291 shares of the company's stock after acquiring an additional 71,741 shares during the quarter. Vanguard Group Inc. owned 4.21% of ArriVent BioPharma worth $37,757,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of ArriVent BioPharma by 154.2% in the 3rd quarter. Geode Capital Management LLC now owns 597,165 shares of the company's stock valued at $14,036,000 after purchasing an additional 362,221 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in ArriVent BioPharma in the fourth quarter valued at $31,000. Barclays PLC raised its stake in ArriVent BioPharma by 1,124.8% in the third quarter. Barclays PLC now owns 41,522 shares of the company's stock valued at $976,000 after buying an additional 38,132 shares in the last quarter. State Street Corp lifted its holdings in ArriVent BioPharma by 210.4% during the 3rd quarter. State Street Corp now owns 476,809 shares of the company's stock worth $11,205,000 after buying an additional 323,186 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of ArriVent BioPharma by 183.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 12,445 shares of the company's stock worth $292,000 after acquiring an additional 8,050 shares in the last quarter. Hedge funds and other institutional investors own 9.48% of the company's stock.

ArriVent BioPharma Price Performance

Shares of AVBP stock traded up $0.24 during trading hours on Friday, hitting $18.14. The stock had a trading volume of 179,598 shares, compared to its average volume of 169,123. The firm has a market capitalization of $617.05 million, a PE ratio of -7.06 and a beta of 1.66. The stock's 50 day moving average is $20.97 and its 200 day moving average is $25.67. ArriVent BioPharma, Inc. has a twelve month low of $14.35 and a twelve month 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) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.18. As a group, equities analysts predict that ArriVent BioPharma, Inc. will post -2.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.