Hhlr Advisors LTD. Buys New Position in ArriVent BioPharma, Inc. $AVBP

Hhlr Advisors LTD. bought a new stake in ArriVent BioPharma, Inc. (NASDAQ:AVBP) during the 2nd quarter, Holdings Channel.com reports. The firm bought 3,929,117 shares of the company’s stock, valued at approximately $136,498,000. ArriVent BioPharma comprises approximately 16.4% of Hhlr Advisors LTD.’s holdings, making the stock its 3rd biggest position. Hhlr Advisors LTD. owned about 0.08% of ArriVent BioPharma as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Jupiter Topco LLC bought a new position in shares of ArriVent BioPharma during the 2nd quarter worth approximately $226,000. Legal & General Group Plc bought a new stake in shares of ArriVent BioPharma in the second quarter worth $538,000. The Manufacturers Life Insurance Company acquired a new position in ArriVent BioPharma during the second quarter worth $360,000. Quantbot Technologies LP acquired a new position in ArriVent BioPharma during the second quarter worth $59,000. Finally, E Fund Management Co. Ltd. bought a new position in ArriVent BioPharma in the second quarter valued at $3,798,000. Institutional investors and hedge funds own 9.48% of the company’s stock.

ArriVent BioPharma Trading Down 0.7%

NASDAQ:AVBP opened at $31.14 on Thursday. ArriVent BioPharma, Inc. has a 1-year low of $17.00 and a 1-year high of $35.83. The firm has a fifty day simple moving average of $31.66 and a 200 day simple moving average of $28.27. The stock has a market capitalization of $1.54 billion, a PE ratio of -8.60 and a beta of 1.36.

ArriVent BioPharma (NASDAQ:AVBP) last issued its earnings results on Wednesday, August 12th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.06). On average, equities analysts predict that ArriVent BioPharma, Inc. will post -4.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AVBP. Weiss Ratings reiterated a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Friday, July 17th. Guggenheim restated a “buy” rating and set a $45.00 price objective on shares of ArriVent BioPharma in a research note on Thursday, August 13th. Truist Financial raised their price objective on ArriVent BioPharma from $43.00 to $45.00 and gave the company a “buy” rating in a report on Friday, May 29th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ArriVent BioPharma in a research report on Friday, May 22nd. Finally, HC Wainwright upped their target price on ArriVent BioPharma from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.86.

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.