Anson Funds Management LP Acquires Shares of 99,887 ArriVent BioPharma, Inc. $AVBP

Anson Funds Management LP acquired a new position in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 99,887 shares of the company’s stock, valued at approximately $1,843,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bessemer Group Inc. purchased a new position in ArriVent BioPharma in the 3rd quarter worth approximately $26,000. Russell Investments Group Ltd. raised its stake in shares of ArriVent BioPharma by 9,747.6% during the third quarter. Russell Investments Group Ltd. now owns 2,068 shares of the company’s stock valued at $38,000 after purchasing an additional 2,047 shares during the period. BNP Paribas Financial Markets lifted its position in shares of ArriVent BioPharma by 31.0% during the second quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company’s stock worth $56,000 after purchasing an additional 609 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of ArriVent BioPharma by 696.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,258 shares of the company’s stock worth $60,000 after purchasing an additional 2,849 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of ArriVent BioPharma by 571.6% in the second quarter. Tower Research Capital LLC TRC now owns 6,669 shares of the company’s stock valued at $145,000 after purchasing an additional 5,676 shares during the period. 9.48% of the stock is owned by institutional investors and hedge funds.

ArriVent BioPharma Trading Down 0.8%

AVBP stock opened at $23.90 on Friday. The firm has a 50 day simple moving average of $22.60 and a 200-day simple moving average of $21.10. The company has a market capitalization of $1.06 billion, a P/E ratio of -5.42 and a beta of 0.99. ArriVent BioPharma, Inc. has a twelve month low of $15.47 and a twelve month high of $27.22.

ArriVent BioPharma (NASDAQ:AVBP) last posted its quarterly earnings results on Thursday, March 5th. The company reported ($0.78) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.87) by $0.09. On average, research analysts predict that ArriVent BioPharma, Inc. will post -2.74 EPS for the current year.

Analyst Upgrades and Downgrades

AVBP has been the subject of a number of recent analyst reports. HC Wainwright raised their price target on shares of ArriVent BioPharma from $42.00 to $44.00 and gave the company a “buy” rating in a report on Friday, March 6th. BTIG Research began coverage on shares of ArriVent BioPharma in a report on Thursday. They issued a “buy” rating and a $42.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Wednesday, January 21st. Oppenheimer restated an “outperform” rating and set a $50.00 target price (up from $44.00) on shares of ArriVent BioPharma in a research note on Friday, March 6th. Finally, Truist Financial began coverage on ArriVent BioPharma in a research report on Tuesday, November 25th. They set a “buy” rating and a $43.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.78.

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.