ArriVent BioPharma, Inc. $AVBP Shares Sold by UBS Group AG

UBS Group AG reduced its position in ArriVent BioPharma, Inc. (NASDAQ:AVBP) by 9.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 450,920 shares of the company’s stock after selling 46,681 shares during the period. UBS Group AG owned approximately 1.09% of ArriVent BioPharma worth $9,073,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AVBP. Vanguard Group Inc. lifted its stake in shares of ArriVent BioPharma by 36.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,029,531 shares of the company’s stock valued at $37,445,000 after purchasing an additional 545,991 shares in the last quarter. Suvretta Capital Management LLC lifted its stake in shares of ArriVent BioPharma by 8.5% in the 3rd quarter. Suvretta Capital Management LLC now owns 3,703,452 shares of the company’s stock valued at $68,329,000 after purchasing an additional 290,664 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of ArriVent BioPharma in the 3rd quarter valued at about $4,731,000. Squarepoint Ops LLC lifted its stake in shares of ArriVent BioPharma by 1,009.1% in the 2nd quarter. Squarepoint Ops LLC now owns 204,355 shares of the company’s stock valued at $4,449,000 after purchasing an additional 185,929 shares in the last quarter. Finally, Woodline Partners LP lifted its stake in shares of ArriVent BioPharma by 102.1% in the 3rd quarter. Woodline Partners LP now owns 296,916 shares of the company’s stock valued at $5,478,000 after purchasing an additional 150,000 shares in the last quarter. 9.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on AVBP. Truist Financial raised ArriVent BioPharma to a “strong-buy” rating in a research note on Monday, May 4th. Oppenheimer reissued an “outperform” rating and set a $50.00 price target (up from $44.00) on shares of ArriVent BioPharma in a research report on Friday, March 6th. B. Riley Financial boosted their price target on ArriVent BioPharma from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, March 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Monday, April 20th. Finally, BTIG Research initiated coverage on ArriVent BioPharma in a research report on Thursday, March 12th. They set a “buy” rating and a $42.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $42.78.

ArriVent BioPharma Price Performance

Shares of ArriVent BioPharma stock opened at $27.87 on Monday. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -8.03 and a beta of 1.51. The business has a fifty day simple moving average of $26.48 and a 200-day simple moving average of $23.42. ArriVent BioPharma, Inc. has a fifty-two week low of $16.10 and a fifty-two week high of $32.14.

ArriVent BioPharma (NASDAQ:AVBP) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.08). Analysts anticipate that ArriVent BioPharma, Inc. will post -3.72 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.