71,575 Shares in ArriVent BioPharma, Inc. $AVBP Purchased by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC acquired a new stake in ArriVent BioPharma, Inc. (NASDAQ:AVBP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 71,575 shares of the company’s stock, valued at approximately $1,558,000.

A number of other hedge funds have also added to or reduced their stakes in AVBP. Vanguard Group Inc. raised its stake in shares of ArriVent BioPharma by 6.1% during the first quarter. Vanguard Group Inc. now owns 1,503,358 shares of the company’s stock valued at $27,797,000 after acquiring an additional 86,067 shares in the last quarter. Nuveen LLC bought a new position in ArriVent BioPharma in the first quarter worth approximately $819,000. Wellington Management Group LLP increased its holdings in ArriVent BioPharma by 46.3% during the 1st quarter. Wellington Management Group LLP now owns 61,348 shares of the company’s stock worth $1,134,000 after purchasing an additional 19,427 shares during the period. Infinitum Asset Management LLC increased its holdings in ArriVent BioPharma by 25.7% during the 1st quarter. Infinitum Asset Management LLC now owns 2,066,238 shares of the company’s stock worth $38,205,000 after purchasing an additional 422,315 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in ArriVent BioPharma during the 1st quarter valued at $266,000. 9.48% of the stock is currently owned by institutional investors.

ArriVent BioPharma Price Performance

AVBP opened at $18.47 on Friday. The firm has a market capitalization of $749.33 million, a PE ratio of -4.59 and a beta of 1.11. The business’s 50-day moving average is $19.21 and its two-hundred day moving average is $20.31. ArriVent BioPharma, Inc. has a 1 year low of $15.47 and a 1 year high of $36.37.

ArriVent BioPharma (NASDAQ:AVBP) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.20). As a group, sell-side analysts expect that ArriVent BioPharma, Inc. will post -2.74 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AVBP. Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Wednesday, October 8th. Zacks Research lowered shares of ArriVent BioPharma from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. The Goldman Sachs Group upgraded shares of ArriVent BioPharma to a “buy” rating and set a $33.00 target price on the stock in a report on Thursday, July 10th. B. Riley raised shares of ArriVent BioPharma to a “strong-buy” rating in a research report on Monday, August 25th. Finally, HC Wainwright restated a “buy” rating and issued a $42.00 price target (up previously from $40.00) on shares of ArriVent BioPharma in a report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.14.

ArriVent BioPharma Profile

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.