Hhlr Advisors LTD. Invests $136.50 Million in ArriVent BioPharma, Inc. $AVBP

Hhlr Advisors LTD. acquired a new position in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,929,117 shares of the company’s stock, valued at approximately $136,498,000. ArriVent BioPharma accounts for about 16.4% of Hhlr Advisors LTD.’s investment portfolio, making the stock its 3rd largest holding. Hhlr Advisors LTD. owned approximately 8.44% of ArriVent BioPharma as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Russell Investments Group Ltd. boosted its holdings in ArriVent BioPharma by 9,747.6% during the third quarter. Russell Investments Group Ltd. now owns 2,068 shares of the company’s stock worth $38,000 after buying an additional 2,047 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of ArriVent BioPharma by 27.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,006 shares of the company’s stock valued at $40,000 after acquiring an additional 438 shares during the last quarter. BNP Paribas Financial Markets raised its position 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 acquiring an additional 609 shares during the period. Group One Trading LLC acquired a new stake in shares of ArriVent BioPharma in the 4th quarter valued at approximately $57,000. Finally, Quantbot Technologies LP bought a new position in ArriVent BioPharma during the 2nd quarter worth approximately $59,000. Institutional investors own 9.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Truist Financial upped their target price on shares of ArriVent BioPharma from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Friday, July 17th. HC Wainwright boosted their price target 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. Citigroup lowered their price objective on shares of ArriVent BioPharma from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ArriVent BioPharma in a research note on Friday, May 22nd. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, ArriVent BioPharma currently has an average rating of “Moderate Buy” and an average price target of $44.86.

ArriVent BioPharma Stock Performance

Shares of AVBP stock opened at $31.14 on Thursday. ArriVent BioPharma, Inc. has a 52 week low of $17.00 and a 52 week high of $35.83. The company’s 50 day moving average price is $31.66 and its two-hundred day moving average price is $28.27. The company has a market capitalization of $1.54 billion, a P/E ratio of -8.60 and a beta of 1.36.

ArriVent BioPharma (NASDAQ:AVBP) last released 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). Analysts forecast that ArriVent BioPharma, Inc. will post -4.01 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. 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.