Corient IA LLC Takes Position in ArriVent BioPharma, Inc. $AVBP

Corient IA LLC purchased a new position in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 33,500 shares of the company’s stock, valued at approximately $618,000. Corient IA LLC owned about 0.08% of ArriVent BioPharma as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Woodline Partners LP grew its holdings in ArriVent BioPharma by 0.4% during the first quarter. Woodline Partners LP now owns 146,373 shares of the company’s stock valued at $2,706,000 after purchasing an additional 576 shares during the period. BNP Paribas Financial Markets grew its stake 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 period. Legal & General Group Plc grew its stake in shares of ArriVent BioPharma by 8.8% during the 2nd quarter. Legal & General Group Plc now owns 14,790 shares of the company’s stock worth $322,000 after acquiring an additional 1,197 shares during the period. Bessemer Group Inc. purchased a new stake in ArriVent BioPharma in the 3rd quarter worth about $26,000. Finally, Bank of America Corp DE raised its stake in ArriVent BioPharma by 5.0% in the 2nd quarter. Bank of America Corp DE now owns 30,747 shares of the company’s stock valued at $669,000 after acquiring an additional 1,462 shares during the period. Hedge funds and other institutional investors own 9.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AVBP. Weiss Ratings reiterated a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Wednesday, January 21st. Zacks Research upgraded shares of ArriVent BioPharma from a “strong sell” rating to a “hold” rating in a research note on Friday, December 5th. Citigroup cut their price objective on shares of ArriVent BioPharma from $33.00 to $31.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Truist Financial started coverage on shares of ArriVent BioPharma in a report on Tuesday, November 25th. They set a “buy” rating and a $43.00 target price on the stock. Finally, BTIG Research started coverage on ArriVent BioPharma in a research report on Wednesday, December 10th. They set a “buy” rating and a $45.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $40.00.

ArriVent BioPharma Price Performance

AVBP opened at $26.56 on Thursday. The firm has a market capitalization of $1.10 billion, a P/E ratio of -6.26 and a beta of 0.99. ArriVent BioPharma, Inc. has a one year low of $15.47 and a one year high of $27.22. The company has a fifty day moving average price of $22.10 and a 200-day moving average price of $20.86.

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.