Affinity Asset Advisors LLC Purchases 25,000 Shares of ArriVent BioPharma, Inc. $AVBP

Affinity Asset Advisors LLC lifted its position in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) by 16.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 175,000 shares of the company’s stock after purchasing an additional 25,000 shares during the period. Affinity Asset Advisors LLC owned 0.38% of ArriVent BioPharma worth $4,037,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Tema Etfs LLC bought a new position in shares of ArriVent BioPharma in the 4th quarter worth approximately $644,000. AIHC Capital Management Ltd bought a new stake in shares of ArriVent BioPharma during the fourth quarter valued at approximately $12,973,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in ArriVent BioPharma by 45.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,743 shares of the company’s stock worth $95,000 after purchasing an additional 1,485 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in ArriVent BioPharma by 27.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,006 shares of the company’s stock worth $40,000 after purchasing an additional 438 shares during the period. Finally, SG Americas Securities LLC raised its holdings in ArriVent BioPharma by 39.2% in the fourth quarter. SG Americas Securities LLC now owns 51,437 shares of the company’s stock worth $1,035,000 after purchasing an additional 14,495 shares in the last quarter. 9.48% of the stock is owned by institutional investors.

ArriVent BioPharma Stock Up 0.6%

AVBP stock opened at $31.73 on Friday. ArriVent BioPharma, Inc. has a twelve month low of $16.10 and a twelve month high of $35.83. The company has a market cap of $1.48 billion, a P/E ratio of -9.14 and a beta of 1.29. The business’s fifty day moving average is $31.18 and its 200-day moving average is $26.87.

ArriVent BioPharma (NASDAQ:AVBP) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.08). Research analysts anticipate that ArriVent BioPharma, Inc. will post -3.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AVBP. Citigroup lowered their price objective on ArriVent BioPharma from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ArriVent BioPharma in a report on Friday, July 17th. Truist Financial boosted their price target on ArriVent BioPharma from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of ArriVent BioPharma in a research note on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, ArriVent BioPharma has an average rating of “Moderate Buy” and a consensus price target of $44.83.

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. In addition, the company develops Furmonertinib, a third-generation tyrosine kinase inhibitor that is in multiple clinical trials across a range of epidermal growth factor receptor mutations (EFGRm) in non-small cell lung cancer (NSCLC), including a phase 3 clinical trial for treatment of patients with metastatic EFGRm NSCLC; phase 1b clinical trial for treatment of patients with NSCLC with other EGFR mutations and NSCLC with HER2 Exon 20 insertion mutations; and ARR-002.