Quantinno Capital Management LP Takes Position in ArriVent BioPharma, Inc. $AVBP

Quantinno Capital Management LP acquired a new position in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,996 shares of the company’s stock, valued at approximately $715,000. Quantinno Capital Management LP owned 0.07% of ArriVent BioPharma at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AVBP. Dynamic Technology Lab Private Ltd acquired a new stake in ArriVent BioPharma in the 1st quarter valued at approximately $266,000. Woodline Partners LP boosted its position in ArriVent BioPharma by 0.4% during the 1st quarter. Woodline Partners LP now owns 146,373 shares of the company’s stock worth $2,706,000 after acquiring an additional 576 shares during the last quarter. Jane Street Group LLC bought a new position in shares of ArriVent BioPharma during the 1st quarter worth approximately $189,000. Legal & General Group Plc grew its stake in shares of ArriVent BioPharma by 8.8% during the 2nd quarter. Legal & General Group Plc now owns 14,790 shares of the company’s stock worth $322,000 after acquiring an additional 1,197 shares in the last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of ArriVent BioPharma in the second quarter valued at approximately $206,000. 9.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AVBP shares. Citigroup reduced their target price on shares of ArriVent BioPharma from $43.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, August 13th. HC Wainwright lifted their price target on shares of ArriVent BioPharma from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Monday. Cantor Fitzgerald reissued an “overweight” rating on shares of ArriVent BioPharma in a research report on Friday, May 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Friday, July 17th. Finally, Truist Financial raised their price objective on ArriVent BioPharma from $43.00 to $45.00 and gave the company a “buy” rating in a report on Friday, May 29th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, ArriVent BioPharma currently has an average rating of “Moderate Buy” and an average target price of $44.86.

ArriVent BioPharma Trading Up 3.4%

NASDAQ AVBP opened at $30.00 on Wednesday. The company has a market cap of $1.40 billion, a PE ratio of -8.29 and a beta of 1.36. ArriVent BioPharma, Inc. has a 12 month low of $17.00 and a 12 month high of $35.83. The stock has a 50 day moving average of $31.75 and a 200-day moving average of $27.95.

ArriVent BioPharma (NASDAQ:AVBP) last issued its earnings results on Wednesday, August 12th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.06). As a group, sell-side analysts predict that ArriVent BioPharma, Inc. will post -3.96 EPS for the current fiscal year.

About ArriVent BioPharma

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.