ArriVent BioPharma, Inc. (NASDAQ:AVBP) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its position in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) by 26.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,685 shares of the company’s stock after purchasing an additional 3,240 shares during the period. JPMorgan Chase & Co.’s holdings in ArriVent BioPharma were worth $418,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of ArriVent BioPharma in the fourth quarter worth $31,000. KLP Kapitalforvaltning AS acquired a new stake in ArriVent BioPharma in the 4th quarter valued at approximately $83,000. China Universal Asset Management Co. Ltd. bought a new position in ArriVent BioPharma in the 4th quarter valued at about $190,000. New York State Common Retirement Fund increased its stake in shares of ArriVent BioPharma by 34.6% during the fourth quarter. New York State Common Retirement Fund now owns 7,783 shares of the company’s stock valued at $207,000 after acquiring an additional 2,000 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in shares of ArriVent BioPharma in the fourth quarter valued at $394,000. Institutional investors and hedge funds own 9.48% of the company’s stock.

Analyst Upgrades and Downgrades

AVBP has been the subject of several research reports. HC Wainwright reissued a “buy” rating and set a $39.00 price objective on shares of ArriVent BioPharma in a research note on Friday, March 7th. B. Riley started coverage on ArriVent BioPharma in a report on Thursday, March 20th. They set a “buy” rating and a $37.00 price objective for the company. Finally, Guggenheim assumed coverage on shares of ArriVent BioPharma in a research note on Monday, March 10th. They set a “buy” rating and a $45.00 price target on the stock. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $39.00.

ArriVent BioPharma Stock Down 0.8 %

AVBP opened at $21.08 on Friday. ArriVent BioPharma, Inc. has a 12-month low of $15.47 and a 12-month high of $36.37. The firm has a market capitalization of $717.06 million, a P/E ratio of -8.20 and a beta of 1.66. The stock’s 50 day moving average price is $19.91 and its two-hundred day moving average price is $25.29.

ArriVent BioPharma (NASDAQ:AVBP) last released its earnings results on Monday, March 3rd. The company reported ($0.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.18. As a group, analysts anticipate that ArriVent BioPharma, Inc. will post -2.74 earnings per share for the current year.

About ArriVent BioPharma

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.