Tema Etfs LLC Takes $644,000 Position in ArriVent BioPharma, Inc. $AVBP

Tema Etfs LLC acquired a new stake in ArriVent BioPharma, Inc. (NASDAQ:AVBP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 32,007 shares of the company’s stock, valued at approximately $644,000.

Other large investors have also recently added to or reduced their stakes in the company. Suvretta Capital Management LLC boosted its position in ArriVent BioPharma by 8.5% in the 3rd quarter. Suvretta Capital Management LLC now owns 3,703,452 shares of the company’s stock valued at $68,329,000 after buying an additional 290,664 shares during the period. Vanguard Group Inc. increased its position in shares of ArriVent BioPharma by 36.8% during the third quarter. Vanguard Group Inc. now owns 2,029,531 shares of the company’s stock worth $37,445,000 after acquiring an additional 545,991 shares during the period. Fund 1 Investments LLC increased its position in shares of ArriVent BioPharma by 17.3% during the third quarter. Fund 1 Investments LLC now owns 619,851 shares of the company’s stock worth $11,436,000 after acquiring an additional 91,456 shares during the period. UBS Group AG raised its stake in shares of ArriVent BioPharma by 474.7% in the third quarter. UBS Group AG now owns 497,601 shares of the company’s stock valued at $9,181,000 after acquiring an additional 411,013 shares in the last quarter. Finally, Woodline Partners LP boosted its holdings in ArriVent BioPharma by 102.1% in the third quarter. Woodline Partners LP now owns 296,916 shares of the company’s stock valued at $5,478,000 after purchasing an additional 150,000 shares during the period. 9.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AVBP has been the subject of several analyst reports. HC Wainwright boosted their target price on ArriVent BioPharma from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Zacks Research raised ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a research report on Friday, December 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Wednesday, January 21st. Cantor Fitzgerald initiated coverage on shares of ArriVent BioPharma in a research note on Monday, December 22nd. They set an “overweight” rating on the stock. Finally, Truist Financial raised shares of ArriVent BioPharma to a “strong-buy” rating in a report on Wednesday, March 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $41.67.

ArriVent BioPharma Price Performance

NASDAQ:AVBP opened at $24.89 on Friday. The firm has a market capitalization of $1.10 billion, a PE ratio of -5.64 and a beta of 0.85. The business’s fifty day moving average price is $23.05 and its 200 day moving average price is $21.42. ArriVent BioPharma, Inc. has a 12 month low of $15.47 and a 12 month high of $27.22.

ArriVent BioPharma (NASDAQ:AVBP) last posted its quarterly earnings results on Thursday, March 5th. The company reported ($0.78) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.09. As a group, equities analysts anticipate that ArriVent BioPharma, Inc. will post -2.74 EPS for the current year.

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. 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.