ArriVent BioPharma, Inc. (NASDAQ:AVBP) Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC lifted its holdings in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) by 92.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 22,680 shares of the company’s stock after buying an additional 10,873 shares during the period. SG Americas Securities LLC’s holdings in ArriVent BioPharma were worth $419,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AVBP. Infinitum Asset Management LLC acquired a new position in shares of ArriVent BioPharma during the 4th quarter worth approximately $43,794,000. Suvretta Capital Management LLC raised its stake in shares of 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 during the period. Octagon Capital Advisors LP raised its stake in shares of ArriVent BioPharma by 4.2% during the 4th quarter. Octagon Capital Advisors LP now owns 2,059,387 shares of the company’s stock worth $54,862,000 after buying an additional 83,000 shares during the period. Vanguard Group Inc. raised its stake in shares of ArriVent BioPharma by 5.3% during the 4th quarter. Vanguard Group Inc. now owns 1,417,291 shares of the company’s stock worth $37,757,000 after buying an additional 71,741 shares during the period. Finally, Wellington Management Group LLP acquired a new position in ArriVent BioPharma in the 4th quarter valued at $1,117,000. 9.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Guggenheim reissued a “buy” rating and issued a $45.00 price objective on shares of ArriVent BioPharma in a research note on Tuesday. B. Riley assumed coverage on ArriVent BioPharma in a research note on Thursday, March 20th. They issued a “buy” rating and a $37.00 price objective for the company. HC Wainwright increased their price objective on ArriVent BioPharma from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. Jones Trading assumed coverage on ArriVent BioPharma in a research note on Tuesday, May 20th. They issued a “buy” rating and a $40.00 price objective for the company. Finally, Oppenheimer increased their price objective on ArriVent BioPharma from $39.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday. One 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.00.

ArriVent BioPharma Stock Up 1.4%

Shares of AVBP opened at $23.11 on Wednesday. ArriVent BioPharma, Inc. has a 52-week low of $15.47 and a 52-week high of $36.37. The company has a market capitalization of $790.66 million, a PE ratio of -6.13 and a beta of 1.26. The stock has a fifty day simple moving average of $21.37 and a two-hundred day simple moving average of $23.07.

ArriVent BioPharma (NASDAQ:AVBP) last issued its earnings results on Monday, May 12th. The company reported ($1.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($1.24). As a group, equities analysts anticipate that ArriVent BioPharma, Inc. will post -2.74 earnings per share 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.