Intech Investment Management LLC Invests $394,000 in ArriVent BioPharma, Inc. (NASDAQ:AVBP)

Intech Investment Management LLC acquired a new stake in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 14,798 shares of the company’s stock, valued at approximately $394,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AVBP. Charles Schwab Investment Management Inc. lifted its holdings in ArriVent BioPharma by 153.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 202,368 shares of the company’s stock valued at $4,756,000 after purchasing an additional 122,641 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of ArriVent BioPharma during the 3rd quarter valued at $240,000. FMR LLC boosted its holdings in ArriVent BioPharma by 8.7% in the 3rd quarter. FMR LLC now owns 2,119,695 shares of the company’s stock worth $49,813,000 after buying an additional 169,514 shares during the period. BNP Paribas Financial Markets increased its stake in ArriVent BioPharma by 32.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 21,965 shares of the company’s stock worth $516,000 after buying an additional 5,397 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in ArriVent BioPharma by 168.9% during the third quarter. MetLife Investment Management LLC now owns 16,350 shares of the company’s stock valued at $384,000 after acquiring an additional 10,269 shares during the period. 9.48% of the stock is owned by hedge funds and other institutional investors.

ArriVent BioPharma Stock Down 6.0 %

NASDAQ AVBP opened at $18.99 on Wednesday. ArriVent BioPharma, Inc. has a 52 week low of $14.35 and a 52 week high of $36.37. The firm has a market capitalization of $645.96 million, a price-to-earnings ratio of -7.39 and a beta of 1.00. The company has a fifty day moving average of $24.70 and a two-hundred day moving average of $26.62.

ArriVent BioPharma (NASDAQ:AVBP) last released its quarterly earnings results on Monday, March 3rd. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.18. Equities research analysts anticipate that ArriVent BioPharma, Inc. will post -2.74 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AVBP. Guggenheim began coverage on ArriVent BioPharma in a research note on Monday, March 10th. They set a “buy” rating and a $45.00 target price on the stock. B. Riley started coverage on shares of ArriVent BioPharma in a report on Thursday, March 20th. They issued a “buy” rating and a $37.00 target price on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $39.00 target price on shares of ArriVent BioPharma in a research note on Friday, March 7th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ArriVent BioPharma currently has an average rating of “Buy” and an average price target of $39.00.

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.