General Catalyst Group Management LLC Makes New Investment in ArriVent BioPharma, Inc. $AVBP

General Catalyst Group Management LLC acquired a new position in ArriVent BioPharma, Inc. (NASDAQ:AVBP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,494,786 shares of the company’s stock, valued at approximately $51,929,000. ArriVent BioPharma accounts for approximately 27.5% of General Catalyst Group Management LLC’s holdings, making the stock its biggest holding.

A number of other large investors have also recently made changes to their positions in the stock. Infinitum Asset Management LLC increased its holdings in ArriVent BioPharma by 6.6% in the 4th quarter. Infinitum Asset Management LLC now owns 4,123,923 shares of the company’s stock worth $82,973,000 after acquiring an additional 255,000 shares in the last quarter. Suvretta Capital Management LLC boosted its position in shares of ArriVent BioPharma by 10.9% in the fourth quarter. Suvretta Capital Management LLC now owns 4,106,035 shares of the company’s stock worth $82,613,000 after purchasing an additional 402,583 shares during the period. Hhlr Advisors LTD. bought a new position in shares of ArriVent BioPharma in the second quarter worth approximately $136,498,000. BlackRock Inc. purchased a new stake in shares of ArriVent BioPharma in the second quarter worth $112,919,000. Finally, Vanguard Group Inc. increased its stake in shares of ArriVent BioPharma by 36.8% in the third quarter. Vanguard Group Inc. now owns 2,029,531 shares of the company’s stock worth $37,445,000 after purchasing an additional 545,991 shares in the last quarter. 9.48% of the stock is owned by hedge funds and other institutional investors.

ArriVent BioPharma Trading Down 0.4%

Shares of ArriVent BioPharma stock opened at $31.00 on Friday. The firm has a market cap of $1.53 billion, a PE ratio of -8.56 and a beta of 1.36. The stock has a 50 day moving average of $31.65 and a 200 day moving average of $28.33. ArriVent BioPharma, Inc. has a 12 month low of $17.00 and a 12 month high of $35.83.

ArriVent BioPharma (NASDAQ:AVBP) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.06). As a group, equities research analysts forecast that ArriVent BioPharma, Inc. will post -4.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Guggenheim reissued a “buy” rating and set a $45.00 price target on shares of ArriVent BioPharma in a report on Thursday, August 13th. HC Wainwright upped their price objective on ArriVent BioPharma from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. BTIG Research reiterated a “buy” rating and set a $42.00 target price on shares of ArriVent BioPharma in a research report on Thursday, August 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Friday, July 17th. Finally, Truist Financial boosted their price target on ArriVent BioPharma from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $44.86.

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. 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.