Seven Fleet Capital Management LP Acquires Shares of 50,252 ArriVent BioPharma, Inc. $AVBP

Seven Fleet Capital Management LP acquired a new position in ArriVent BioPharma, Inc. (NASDAQ:AVBP) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 50,252 shares of the company’s stock, valued at approximately $1,159,000.

Several other large investors also recently made changes to their positions in the business. Affinity Asset Advisors LLC increased its stake in shares of ArriVent BioPharma by 16.7% in the first quarter. Affinity Asset Advisors LLC now owns 175,000 shares of the company’s stock valued at $4,037,000 after buying an additional 25,000 shares in the last quarter. AIHC Capital Management Ltd acquired a new position in ArriVent BioPharma during the 4th quarter worth about $12,973,000. ADAR1 Capital Management LLC acquired a new position in ArriVent BioPharma during the 1st quarter worth about $3,272,000. Vivo Capital LLC bought a new stake in ArriVent BioPharma during the 1st quarter worth about $20,438,000. Finally, Tower Research Capital LLC TRC grew its holdings in ArriVent BioPharma by 571.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,669 shares of the company’s stock worth $145,000 after acquiring an additional 5,676 shares during the last quarter. Institutional investors own 9.48% of the company’s stock.

Wall Street Analyst Weigh In

AVBP has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ArriVent BioPharma in a research note on Friday, May 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Friday, July 17th. Citigroup lowered their price target on shares of ArriVent BioPharma from $45.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Finally, Truist Financial boosted their price objective on shares of ArriVent BioPharma from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, ArriVent BioPharma has an average rating of “Moderate Buy” and an average price target of $44.83.

ArriVent BioPharma Trading Down 2.7%

NASDAQ AVBP opened at $29.82 on Friday. The stock has a 50-day simple moving average of $31.51 and a 200 day simple moving average of $27.23. The company has a market capitalization of $1.39 billion, a PE ratio of -8.59 and a beta of 1.29. ArriVent BioPharma, Inc. has a 12 month low of $16.10 and a 12 month high of $35.83.

ArriVent BioPharma (NASDAQ:AVBP) last issued its earnings results on Monday, May 11th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.08). As a group, sell-side analysts predict that ArriVent BioPharma, Inc. will post -3.9 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. In addition, the company develops Furmonertinib, a third-generation tyrosine kinase inhibitor that is in multiple clinical trials across a range of epidermal growth factor receptor mutations (EFGRm) in non-small cell lung cancer (NSCLC), including a phase 3 clinical trial for treatment of patients with metastatic EFGRm NSCLC; phase 1b clinical trial for treatment of patients with NSCLC with other EGFR mutations and NSCLC with HER2 Exon 20 insertion mutations; and ARR-002.