UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases New Holdings in ArriVent BioPharma, Inc. (NASDAQ:AVBP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in ArriVent BioPharma, Inc. (NASDAQ:AVBP) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 8,165 shares of the company’s stock, valued at approximately $218,000.

Several other large investors have also recently bought and sold shares of AVBP. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of ArriVent BioPharma in the 4th quarter valued at $31,000. Tower Research Capital LLC TRC boosted its holdings in ArriVent BioPharma by 773.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company’s stock valued at $43,000 after acquiring an additional 1,416 shares during the last quarter. Virtus ETF Advisers LLC bought a new position in ArriVent BioPharma in the fourth quarter valued at about $73,000. KLP Kapitalforvaltning AS acquired a new stake in ArriVent BioPharma in the fourth quarter worth about $83,000. Finally, New York State Common Retirement Fund increased its position in ArriVent BioPharma by 34.6% in the fourth quarter. New York State Common Retirement Fund now owns 7,783 shares of the company’s stock worth $207,000 after purchasing an additional 2,000 shares during the period. Institutional investors and hedge funds own 9.48% of the company’s stock.

ArriVent BioPharma Price Performance

Shares of NASDAQ:AVBP opened at $23.63 on Friday. The firm’s 50 day simple moving average is $20.27 and its 200 day simple moving average is $23.38. ArriVent BioPharma, Inc. has a fifty-two week low of $15.47 and a fifty-two week high of $36.37. The company has a market capitalization of $808.45 million, a price-to-earnings ratio of -6.27 and a beta of 1.26.

ArriVent BioPharma (NASDAQ:AVBP) last issued its earnings results on Monday, May 12th. The company reported ($1.90) EPS for the quarter, missing the consensus estimate of ($0.66) by ($1.24). Equities research analysts expect that ArriVent BioPharma, Inc. will post -2.74 earnings per share for the current year.

Analyst Ratings Changes

AVBP has been the topic of a number of research reports. Jones Trading initiated coverage on shares of ArriVent BioPharma in a research report on Tuesday, May 20th. They set a “buy” rating and a $40.00 target price on the stock. Wall Street Zen downgraded shares of ArriVent BioPharma from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 22nd. B. Riley assumed coverage on shares of ArriVent BioPharma in a report on Thursday, March 20th. They issued a “buy” rating and a $37.00 price objective on the stock. HC Wainwright lifted their target price on shares of ArriVent BioPharma from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Finally, Guggenheim started coverage on shares of ArriVent BioPharma in a research report on Monday, March 10th. They set a “buy” rating and a $45.00 target price for the company. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.29.

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.