AlphaQuest LLC Acquires Shares of 41,449 ArriVent BioPharma, Inc. $AVBP

AlphaQuest LLC bought a new position in ArriVent BioPharma, Inc. (NASDAQ:AVBP) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 41,449 shares of the company’s stock, valued at approximately $765,000. AlphaQuest LLC owned approximately 0.10% of ArriVent BioPharma as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BNP Paribas Financial Markets boosted its holdings in ArriVent BioPharma by 31.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company’s stock worth $56,000 after buying an additional 609 shares during the period. Tower Research Capital LLC TRC raised its holdings in ArriVent BioPharma by 571.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,669 shares of the company’s stock valued at $145,000 after acquiring an additional 5,676 shares during the period. Jane Street Group LLC purchased a new stake in shares of ArriVent BioPharma during the first quarter worth $189,000. Walleye Capital LLC bought a new position in shares of ArriVent BioPharma in the second quarter worth $206,000. Finally, Brevan Howard Capital Management LP bought a new position in shares of ArriVent BioPharma in the second quarter worth $209,000. Institutional investors own 9.48% of the company’s stock.

ArriVent BioPharma Price Performance

Shares of AVBP opened at $22.64 on Wednesday. ArriVent BioPharma, Inc. has a 1-year low of $15.47 and a 1-year high of $29.57. The company has a market capitalization of $934.58 million, a P/E ratio of -5.34 and a beta of 1.02. The firm’s 50 day simple moving average is $22.24 and its 200 day simple moving average is $20.39.

ArriVent BioPharma (NASDAQ:AVBP) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.05). On average, equities analysts anticipate that ArriVent BioPharma, Inc. will post -2.74 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Citigroup decreased their price objective on ArriVent BioPharma from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Truist Financial began coverage on ArriVent BioPharma in a report on Tuesday, November 25th. They set a “buy” rating and a $43.00 target price for the company. Cantor Fitzgerald assumed coverage on shares of ArriVent BioPharma in a report on Monday, December 22nd. They issued an “overweight” rating on the stock. BTIG Research started coverage on shares of ArriVent BioPharma in a research report on Wednesday, December 10th. They issued a “buy” rating and a $45.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

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.