12,735 Shares in ArriVent BioPharma, Inc. $AVBP Acquired by AXQ Capital LP

AXQ Capital LP acquired a new stake in ArriVent BioPharma, Inc. (NASDAQ:AVBP) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,735 shares of the company’s stock, valued at approximately $277,000.

A number of other institutional investors have also recently bought and sold shares of the business. Jane Street Group LLC bought a new stake in shares of ArriVent BioPharma during the 1st quarter valued at $189,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of ArriVent BioPharma during the first quarter worth $266,000. Legal & General Group Plc grew its stake in shares of ArriVent BioPharma by 8.8% during the second quarter. Legal & General Group Plc now owns 14,790 shares of the company’s stock worth $322,000 after purchasing an additional 1,197 shares during the period. SG Americas Securities LLC increased its holdings in ArriVent BioPharma by 21.1% in the second quarter. SG Americas Securities LLC now owns 27,473 shares of the company’s stock valued at $598,000 after purchasing an additional 4,793 shares during the last quarter. Finally, Nuveen LLC acquired a new position in ArriVent BioPharma in the first quarter valued at about $819,000. Institutional investors and hedge funds own 9.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Zacks Research cut ArriVent BioPharma from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Wednesday, October 8th. B. Riley upgraded shares of ArriVent BioPharma to a “strong-buy” rating in a report on Monday, August 25th. Citigroup cut their target price on shares of ArriVent BioPharma from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Finally, HC Wainwright reissued a “buy” rating and set a $42.00 price target (up from $40.00) on shares of ArriVent BioPharma in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.86.

ArriVent BioPharma Stock Performance

NASDAQ:AVBP opened at $21.51 on Tuesday. The stock has a 50-day simple moving average of $19.21 and a 200 day simple moving average of $20.25. ArriVent BioPharma, Inc. has a 52-week low of $15.47 and a 52-week high of $30.41. The company has a market cap of $887.93 million, a PE ratio of -5.07 and a beta of 1.11.

ArriVent BioPharma (NASDAQ:AVBP) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.05). On average, research 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.