Tema ETFs LLC Acquires Shares of 57,034 ArriVent BioPharma, Inc. $AVBP

Tema ETFs LLC bought a new position in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) in the second quarter, Holdings Channel reports. The firm bought 57,034 shares of the company’s stock, valued at approximately $1,981,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AVBP. Affinity Asset Advisors LLC increased its holdings in shares of ArriVent BioPharma by 16.7% in the 1st quarter. Affinity Asset Advisors LLC now owns 175,000 shares of the company’s stock valued at $4,037,000 after acquiring an additional 25,000 shares during the period. Vivo Capital LLC purchased a new stake in shares of ArriVent BioPharma during the 1st quarter worth $20,438,000. Seven Fleet Capital Management LP bought a new stake in ArriVent BioPharma during the first quarter valued at about $1,159,000. ADAR1 Capital Management LLC bought a new stake in ArriVent BioPharma during the first quarter valued at about $3,272,000. Finally, AIHC Capital Management Ltd purchased a new position in ArriVent BioPharma in the fourth quarter valued at about $12,973,000. Institutional investors own 9.48% of the company’s stock.

ArriVent BioPharma Price Performance

ArriVent BioPharma stock opened at $31.46 on Thursday. ArriVent BioPharma, Inc. has a 1-year low of $16.65 and a 1-year high of $35.83. The business has a fifty day moving average price of $31.87 and a 200-day moving average price of $27.77. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -9.07 and a beta of 1.36.

ArriVent BioPharma (NASDAQ:AVBP) last announced its earnings results on Wednesday, August 12th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.06). On average, equities research analysts anticipate that ArriVent BioPharma, Inc. will post -3.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

ArriVent BioPharma Company 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.