Nuveen LLC Takes $819,000 Position in ArriVent BioPharma, Inc. $AVBP

Nuveen LLC bought a new position in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 44,282 shares of the company’s stock, valued at approximately $819,000. Nuveen LLC owned approximately 0.13% of ArriVent BioPharma at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. MetLife Investment Management LLC grew its position in ArriVent BioPharma by 6.8% in the fourth quarter. MetLife Investment Management LLC now owns 17,460 shares of the company’s stock worth $465,000 after acquiring an additional 1,110 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of ArriVent BioPharma by 8.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,114 shares of the company’s stock worth $456,000 after purchasing an additional 1,327 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of ArriVent BioPharma by 773.8% during 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in ArriVent BioPharma by 17.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,965 shares of the company’s stock worth $293,000 after acquiring an additional 1,620 shares during the period. Finally, Bank of America Corp DE raised its stake in ArriVent BioPharma by 5.3% in the fourth quarter. Bank of America Corp DE now owns 45,544 shares of the company’s stock worth $1,213,000 after buying an additional 2,279 shares in the last quarter. 9.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Jones Trading assumed coverage on shares of ArriVent BioPharma in a report on Tuesday, May 20th. They issued a “buy” rating and a $40.00 price target on the stock. The Goldman Sachs Group upgraded shares of ArriVent BioPharma to a “buy” rating and set a $33.00 price target on the stock in a research note on Thursday, July 10th. Citigroup reissued a “buy” rating and issued a $33.00 price objective (down from $40.00) on shares of ArriVent BioPharma in a report on Tuesday, August 12th. B. Riley upgraded shares of ArriVent BioPharma to a “strong-buy” rating in a report on Monday, August 25th. Finally, Zacks Research upgraded shares of ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, ArriVent BioPharma currently has an average rating of “Buy” and an average price target of $39.14.

ArriVent BioPharma Trading Up 3.8%

AVBP opened at $19.84 on Wednesday. The firm’s 50-day moving average price is $20.27 and its 200 day moving average price is $20.81. ArriVent BioPharma, Inc. has a twelve month low of $15.47 and a twelve month high of $36.37. The firm has a market capitalization of $804.91 million, a PE ratio of -4.94 and a beta of 1.17.

ArriVent BioPharma (NASDAQ:AVBP) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.20). As a group, analysts predict 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.