ArriVent BioPharma, Inc. $AVBP Shares Sold by Virtus Investment Advisers LLC

Virtus Investment Advisers LLC cut its holdings in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) by 37.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,979 shares of the company’s stock after selling 2,369 shares during the period. Virtus Investment Advisers LLC’s holdings in ArriVent BioPharma were worth $87,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AVBP. Infinitum Asset Management LLC increased its position in shares of ArriVent BioPharma by 25.7% in 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 last quarter. Vanguard Group Inc. grew its position 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 worth $27,797,000 after acquiring an additional 86,067 shares during the last quarter. Moody Aldrich Partners LLC bought a new stake in shares of ArriVent BioPharma during the second quarter valued at approximately $1,558,000. Nuveen LLC bought a new position in ArriVent BioPharma in the 1st quarter valued at about $819,000. Finally, Wellington Management Group LLP increased its stake in shares of ArriVent BioPharma by 46.3% during the first quarter. Wellington Management Group LLP now owns 61,348 shares of the company’s stock valued at $1,134,000 after acquiring an additional 19,427 shares during the period. Institutional investors and hedge funds own 9.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AVBP. Weiss Ratings reiterated a “sell (d-)” rating on shares of ArriVent BioPharma in a report on Wednesday, October 8th. Zacks Research cut ArriVent BioPharma from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Citigroup dropped their price target on shares of 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 initiated coverage on ArriVent BioPharma in a report on Tuesday, November 25th. They issued a “buy” rating and a $43.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $42.00 target price (up from $40.00) on shares of ArriVent BioPharma in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $39.38.

ArriVent BioPharma Stock Performance

NASDAQ AVBP opened at $22.98 on Monday. The stock has a 50-day simple moving average of $19.61 and a 200 day simple moving average of $20.35. ArriVent BioPharma, Inc. has a twelve month low of $15.47 and a twelve month high of $30.41. The stock has a market capitalization of $948.41 million, a PE ratio of -5.42 and a beta of 0.93.

ArriVent BioPharma (NASDAQ:AVBP) last released its earnings results on Monday, November 10th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.05). As a group, equities research analysts forecast that ArriVent BioPharma, Inc. will post -2.74 EPS for the current fiscal year.

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.