Vivo Capital LLC Makes New Investment in ArriVent BioPharma, Inc. $AVBP

Vivo Capital LLC purchased a new stake in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) during the first quarter, Holdings Channel.com reports. The firm purchased 885,916 shares of the company’s stock, valued at approximately $20,438,000. ArriVent BioPharma accounts for approximately 1.7% of Vivo Capital LLC’s investment portfolio, making the stock its 20th biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Tema Etfs LLC bought a new stake in shares of ArriVent BioPharma during the 4th quarter worth $644,000. Affinity Asset Advisors LLC lifted its position in shares of ArriVent BioPharma by 16.7% in the 1st quarter. Affinity Asset Advisors LLC now owns 175,000 shares of the company’s stock worth $4,037,000 after acquiring an additional 25,000 shares during the period. AIHC Capital Management Ltd bought a new stake in shares of ArriVent BioPharma during the fourth quarter valued at approximately $12,973,000. ADAR1 Capital Management LLC bought a new stake in shares of ArriVent BioPharma during the first quarter valued at approximately $3,272,000. Finally, Barclays PLC raised its stake in shares of ArriVent BioPharma by 10.9% in the third quarter. Barclays PLC now owns 129,935 shares of the company’s stock valued at $2,397,000 after purchasing an additional 12,723 shares in the last quarter. Hedge funds and other institutional investors own 9.48% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on AVBP. Weiss Ratings reiterated a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Friday, July 17th. Citigroup dropped their price objective on shares of ArriVent BioPharma from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Truist Financial lifted their target price on shares of ArriVent BioPharma from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of ArriVent BioPharma in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.83.

ArriVent BioPharma Price Performance

Shares of AVBP stock opened at $30.66 on Friday. The stock’s fifty day simple moving average is $31.45 and its 200 day simple moving average is $27.21. ArriVent BioPharma, Inc. has a one year low of $16.10 and a one year high of $35.83. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -8.84 and a beta of 1.29.

ArriVent BioPharma (NASDAQ:AVBP) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.08). On average, research analysts anticipate that ArriVent BioPharma, Inc. will post -3.9 earnings per share for the current year.

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.