Squarepoint Ops LLC Grows Stock Position in ArriVent BioPharma, Inc. $AVBP

Squarepoint Ops LLC increased its holdings in ArriVent BioPharma, Inc. (NASDAQ:AVBP) by 1,009.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 204,355 shares of the company’s stock after acquiring an additional 185,929 shares during the period. Squarepoint Ops LLC owned approximately 0.50% of ArriVent BioPharma worth $4,449,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AVBP. BNP Paribas Financial Markets lifted its stake in shares of ArriVent BioPharma by 31.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company’s stock valued at $56,000 after purchasing an additional 609 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of ArriVent BioPharma by 571.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,669 shares of the company’s stock worth $145,000 after purchasing an additional 5,676 shares during the last quarter. Jane Street Group LLC purchased a new stake in ArriVent BioPharma in the 1st quarter valued at about $189,000. Walleye Capital LLC acquired a new position in ArriVent BioPharma in the second quarter valued at about $206,000. Finally, Brevan Howard Capital Management LP acquired a new position in ArriVent BioPharma in the second quarter valued at about $209,000. Institutional investors and hedge funds own 9.48% of the company’s stock.

Analysts Set New Price Targets

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

ArriVent BioPharma Stock Down 3.2%

Shares of AVBP opened at $23.64 on Tuesday. The company has a market cap of $975.86 million, a P/E ratio of -5.58 and a beta of 0.93. ArriVent BioPharma, Inc. has a fifty-two week low of $15.47 and a fifty-two week high of $29.71. The firm’s 50 day moving average price is $20.77 and its 200 day moving average price is $20.63.

ArriVent BioPharma (NASDAQ:AVBP) last posted 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). Research analysts forecast that ArriVent BioPharma, Inc. will post -2.74 earnings per share for the current 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.