Seven Fleet Capital Management LP Has $8.57 Million Stake in ArriVent BioPharma, Inc. $AVBP

Seven Fleet Capital Management LP raised its position in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) by 390.7% during the second quarter, HoldingsChannel.com reports. The fund owned 246,606 shares of the company’s stock after buying an additional 196,354 shares during the quarter. ArriVent BioPharma accounts for about 1.4% of Seven Fleet Capital Management LP’s holdings, making the stock its 15th biggest position. Seven Fleet Capital Management LP’s holdings in ArriVent BioPharma were worth $8,567,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of AVBP. Infinitum Asset Management LLC boosted its position in shares of ArriVent BioPharma by 6.6% during the 4th quarter. Infinitum Asset Management LLC now owns 4,123,923 shares of the company’s stock valued at $82,973,000 after purchasing an additional 255,000 shares in the last quarter. Suvretta Capital Management LLC lifted its stake in ArriVent BioPharma by 10.9% in the fourth quarter. Suvretta Capital Management LLC now owns 4,106,035 shares of the company’s stock valued at $82,613,000 after buying an additional 402,583 shares during the period. Hhlr Advisors LTD. acquired a new stake in shares of ArriVent BioPharma during the 2nd quarter worth approximately $136,498,000. BlackRock Inc. acquired a new stake in shares of ArriVent BioPharma during the 2nd quarter worth approximately $112,919,000. Finally, Vanguard Group Inc. increased its stake in shares of ArriVent BioPharma by 36.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,029,531 shares of the company’s stock valued at $37,445,000 after acquiring an additional 545,991 shares in the last quarter. 9.48% of the stock is currently owned by institutional investors and hedge funds.

ArriVent BioPharma Price Performance

Shares of NASDAQ AVBP opened at $30.95 on Friday. The company has a 50-day moving average price of $31.34 and a 200-day moving average price of $28.65. The stock has a market capitalization of $1.53 billion, a P/E ratio of -8.55 and a beta of 1.35. ArriVent BioPharma, Inc. has a 1 year low of $17.00 and a 1 year high of $35.83.

ArriVent BioPharma (NASDAQ:AVBP) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.06). As a group, equities research analysts anticipate that ArriVent BioPharma, Inc. will post -4.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.