ArriVent BioPharma, Inc. $AVBP Shares Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC increased its position in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) by 1,009.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 204,355 shares of the company’s stock after buying an additional 185,929 shares during the period. Squarepoint Ops LLC’s holdings in ArriVent BioPharma were worth $4,449,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Infinitum Asset Management LLC grew its holdings in ArriVent BioPharma by 25.7% during the 1st quarter. Infinitum Asset Management LLC now owns 2,066,238 shares of the company’s stock worth $38,205,000 after acquiring an additional 422,315 shares in the last quarter. Moody Aldrich Partners LLC acquired a new stake in shares of ArriVent BioPharma in the 2nd quarter valued at $1,558,000. Nuveen LLC purchased a new stake in shares of ArriVent BioPharma during the 1st quarter worth $819,000. Fund 1 Investments LLC acquired a new position in shares of ArriVent BioPharma during the second quarter worth $11,503,000. Finally, Vanguard Group Inc. grew its stake 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 purchasing an additional 86,067 shares in the last quarter. Hedge funds and other institutional investors own 9.48% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on AVBP shares. Zacks Research upgraded ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a research note on Friday, December 5th. BTIG Research assumed coverage on ArriVent BioPharma in a research report on Wednesday, December 10th. They set a “buy” rating and a $45.00 target price on the stock. B. Riley upgraded ArriVent BioPharma to a “strong-buy” rating in a research note on Monday, August 25th. 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. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.00.

ArriVent BioPharma Stock Down 3.2%

Shares of NASDAQ AVBP opened at $23.64 on Tuesday. The stock has a market cap of $975.86 million, a PE ratio of -5.58 and a beta of 0.93. ArriVent BioPharma, Inc. has a 52-week low of $15.47 and a 52-week high of $29.71. The business has a 50-day moving average price of $20.77 and a 200 day moving average price of $20.63.

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