33,500 Shares in ArriVent BioPharma, Inc. $AVBP Acquired by Corient IA LLC

Corient IA LLC bought a new stake in ArriVent BioPharma, Inc. (NASDAQ:AVBP) during the third quarter, Holdings Channel.com reports. The fund bought 33,500 shares of the company’s stock, valued at approximately $618,000.

Several other hedge funds have also bought and sold shares of AVBP. Bessemer Group Inc. purchased a new position in ArriVent BioPharma in the 3rd quarter worth approximately $26,000. 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 worth $56,000 after acquiring an additional 609 shares during the last quarter. Tower Research Capital LLC TRC grew its position in ArriVent BioPharma by 571.6% in the second quarter. Tower Research Capital LLC TRC now owns 6,669 shares of the company’s stock worth $145,000 after acquiring an additional 5,676 shares in the last quarter. Jane Street Group LLC purchased a new position in ArriVent BioPharma in the first quarter worth $189,000. Finally, Walleye Capital LLC bought a new position in ArriVent BioPharma in the second quarter valued at $206,000. 9.48% of the stock is currently owned by institutional investors.

ArriVent BioPharma Stock Performance

Shares of ArriVent BioPharma stock opened at $26.56 on Thursday. ArriVent BioPharma, Inc. has a 52-week low of $15.47 and a 52-week high of $27.22. The company’s 50 day moving average price is $22.10 and its 200-day moving average price is $20.86. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -6.26 and a beta of 0.99.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AVBP shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Wednesday, January 21st. BTIG Research started coverage on ArriVent BioPharma in a report on Wednesday, December 10th. They set a “buy” rating and a $45.00 price objective on the stock. Zacks Research upgraded ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a research report on Friday, December 5th. Cantor Fitzgerald began coverage on ArriVent BioPharma in a research note on Monday, December 22nd. They issued an “overweight” rating for the company. Finally, Citigroup decreased their price target on shares of ArriVent BioPharma from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.00.

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.