Quantinno Capital Management LP Makes New $715,000 Investment in ArriVent BioPharma, Inc. $AVBP

Quantinno Capital Management LP acquired a new stake in ArriVent BioPharma, Inc. (NASDAQ:AVBP) during the 1st quarter, Holdings Channel reports. The institutional investor acquired 30,996 shares of the company’s stock, valued at approximately $715,000.

A number of other hedge funds also recently made changes to their positions in AVBP. AIHC Capital Management Ltd bought a new position in shares of ArriVent BioPharma during the 4th quarter worth approximately $12,973,000. Vanguard Group Inc. raised its stake in ArriVent BioPharma by 36.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,029,531 shares of the company’s stock valued at $37,445,000 after acquiring an additional 545,991 shares during the period. UBS Group AG raised its stake in ArriVent BioPharma by 474.7% in the 3rd quarter. UBS Group AG now owns 497,601 shares of the company’s stock valued at $9,181,000 after acquiring an additional 411,013 shares during the period. Suvretta Capital Management LLC lifted its holdings in ArriVent BioPharma by 10.9% during the 4th quarter. Suvretta Capital Management LLC now owns 4,106,035 shares of the company’s stock valued at $82,613,000 after purchasing an additional 402,583 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in ArriVent BioPharma by 71.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 742,526 shares of the company’s stock valued at $14,940,000 after purchasing an additional 310,587 shares during the last quarter. 9.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on AVBP. Citigroup reduced 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. HC Wainwright increased their price objective on shares of ArriVent BioPharma from $44.00 to $47.00 and gave the company a “buy” rating in a research report on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Friday, July 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ArriVent BioPharma in a report on Friday, May 22nd. Finally, BTIG Research reiterated a “buy” rating and issued a $42.00 price target on shares of ArriVent BioPharma in a research note on Thursday, August 13th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, ArriVent BioPharma has a consensus rating of “Moderate Buy” and a consensus target price of $44.86.

ArriVent BioPharma Trading Up 3.4%

NASDAQ:AVBP opened at $30.00 on Wednesday. The stock has a market cap of $1.40 billion, a P/E ratio of -8.29 and a beta of 1.36. The stock has a 50 day simple moving average of $31.75 and a 200 day simple moving average of $27.95. ArriVent BioPharma, Inc. has a 1-year low of $17.00 and a 1-year high of $35.83.

ArriVent BioPharma (NASDAQ:AVBP) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.06). As a group, sell-side analysts forecast that ArriVent BioPharma, Inc. will post -3.96 EPS for the current year.

ArriVent BioPharma Company 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.