ArriVent BioPharma, Inc. (NASDAQ:AVBP) Shares Purchased by Fmr LLC

Fmr LLC lifted its stake in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) by 8.7% during the third quarter, Holdings Channel reports. The firm owned 2,119,695 shares of the company’s stock after buying an additional 169,514 shares during the period. Fmr LLC owned about 0.06% of ArriVent BioPharma worth $49,813,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in AVBP. Rhumbline Advisers grew its stake in ArriVent BioPharma by 30.1% during the 2nd quarter. Rhumbline Advisers now owns 12,707 shares of the company’s stock worth $236,000 after buying an additional 2,942 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of ArriVent BioPharma during the third quarter valued at $240,000. SG Americas Securities LLC bought a new position in shares of ArriVent BioPharma during the third quarter worth about $280,000. Bank of New York Mellon Corp increased its holdings in shares of ArriVent BioPharma by 31.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 29,847 shares of the company’s stock worth $554,000 after acquiring an additional 7,140 shares during the period. Finally, AlphaCentric Advisors LLC lifted its position in ArriVent BioPharma by 3.6% in the 2nd quarter. AlphaCentric Advisors LLC now owns 86,000 shares of the company’s stock valued at $1,595,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors own 9.48% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citigroup upped their target price on shares of ArriVent BioPharma from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. HC Wainwright reissued a “buy” rating and issued a $36.00 price objective on shares of ArriVent BioPharma in a report on Friday, November 15th. The Goldman Sachs Group lifted their target price on ArriVent BioPharma from $28.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, Oppenheimer reissued an “outperform” rating and issued a $39.00 price target (up previously from $35.00) on shares of ArriVent BioPharma in a research note on Tuesday, September 10th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, ArriVent BioPharma presently has an average rating of “Buy” and a consensus target price of $36.80.

ArriVent BioPharma Price Performance

Shares of NASDAQ:AVBP opened at $29.26 on Friday. The stock’s 50 day moving average price is $29.23 and its 200 day moving average price is $24.14. ArriVent BioPharma, Inc. has a 12 month low of $14.35 and a 12 month high of $36.37.

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.