Affinity Asset Advisors LLC Has $4.04 Million Stock Holdings in ArriVent BioPharma, Inc. $AVBP

Affinity Asset Advisors LLC lifted its position in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) by 16.7% during the first quarter, HoldingsChannel reports. The firm owned 175,000 shares of the company’s stock after buying an additional 25,000 shares during the quarter. Affinity Asset Advisors LLC’s holdings in ArriVent BioPharma were worth $4,037,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Russell Investments Group Ltd. grew its stake in ArriVent BioPharma by 9,747.6% in the third quarter. Russell Investments Group Ltd. now owns 2,068 shares of the company’s stock valued at $38,000 after acquiring an additional 2,047 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of ArriVent BioPharma by 27.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,006 shares of the company’s stock valued at $40,000 after purchasing an additional 438 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of ArriVent BioPharma by 31.0% during 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 in the last quarter. Group One Trading LLC acquired a new position in shares of ArriVent BioPharma in the 4th quarter valued at approximately $57,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of ArriVent BioPharma by 696.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,258 shares of the company’s stock valued at $60,000 after purchasing an additional 2,849 shares during the period. 9.48% of the stock is currently owned by institutional investors.

ArriVent BioPharma Price Performance

AVBP stock opened at $31.73 on Friday. ArriVent BioPharma, Inc. has a fifty-two week low of $16.10 and a fifty-two week high of $35.83. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -9.14 and a beta of 1.29. The business’s fifty day moving average price is $31.18 and its two-hundred day moving average price is $26.87.

ArriVent BioPharma (NASDAQ:AVBP) last released its earnings results on Monday, May 11th. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.08). Research analysts expect that ArriVent BioPharma, Inc. will post -3.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on AVBP shares. Weiss Ratings restated a “sell (d-)” rating on shares of ArriVent BioPharma in a report on Friday, July 17th. Citigroup reduced their price target on shares of ArriVent BioPharma from $45.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Truist Financial raised their price objective on shares of ArriVent BioPharma from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ArriVent BioPharma in a research report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, ArriVent BioPharma has an average rating of “Moderate Buy” and an average price target of $44.83.

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. 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.