Barclays PLC Grows Holdings in ArriVent BioPharma, Inc. (NASDAQ:AVBP)

Barclays PLC increased its stake in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) by 28.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 53,499 shares of the company’s stock after purchasing an additional 11,977 shares during the period. Barclays PLC owned approximately 0.16% of ArriVent BioPharma worth $1,425,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in ArriVent BioPharma during the fourth quarter worth $31,000. KLP Kapitalforvaltning AS purchased a new stake in shares of ArriVent BioPharma in the 4th quarter valued at $83,000. China Universal Asset Management Co. Ltd. acquired a new position in ArriVent BioPharma during the 4th quarter worth about $190,000. New York State Common Retirement Fund boosted its holdings in ArriVent BioPharma by 34.6% during the 4th 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, JPMorgan Chase & Co. grew its position in ArriVent BioPharma by 183.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 12,445 shares of the company’s stock valued at $292,000 after acquiring an additional 8,050 shares in the last quarter. Institutional investors and hedge funds own 9.48% of the company’s stock.

Analysts Set New Price Targets

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

ArriVent BioPharma Stock Up 1.0 %

NASDAQ AVBP opened at $21.30 on Friday. ArriVent BioPharma, Inc. has a 52 week low of $15.47 and a 52 week high of $36.37. The firm has a 50 day moving average of $19.83 and a two-hundred day moving average of $25.21. The stock has a market capitalization of $724.54 million, a PE ratio of -8.29 and a beta of 1.66.

ArriVent BioPharma (NASDAQ:AVBP) last issued its earnings results on Monday, March 3rd. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.18. On average, equities research analysts expect that ArriVent BioPharma, Inc. will post -2.74 earnings per share for the current fiscal 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.