Montanova Capital LLC Boosts Stock Position in ArriVent BioPharma, Inc. $AVBP

Montanova Capital LLC raised its holdings in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) by 2.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,515,531 shares of the company’s stock after purchasing an additional 114,448 shares during the quarter. ArriVent BioPharma makes up 2.6% of Montanova Capital LLC’s holdings, making the stock its 6th biggest position. Montanova Capital LLC owned about 9.16% of ArriVent BioPharma worth $156,870,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in shares of ArriVent BioPharma by 0.7% during the 4th quarter. Wellington Management Group LLP now owns 82,278 shares of the company’s stock worth $1,655,000 after buying an additional 532 shares during the last quarter. Woodline Partners LP grew its stake in ArriVent BioPharma by 0.4% in the 1st quarter. Woodline Partners LP now owns 146,373 shares of the company’s stock valued at $2,706,000 after buying an additional 576 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in ArriVent BioPharma by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,743 shares of the company’s stock valued at $297,000 after buying an additional 585 shares during the last quarter. BNP Paribas Financial Markets grew its stake in ArriVent BioPharma by 31.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company’s stock valued at $56,000 after buying an additional 609 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in ArriVent BioPharma by 8.8% in the 2nd quarter. Legal & General Group Plc now owns 14,790 shares of the company’s stock valued at $322,000 after acquiring an additional 1,197 shares during the period. 9.48% of the stock is owned by institutional investors.

ArriVent BioPharma Stock Down 0.4%

NASDAQ AVBP opened at $30.05 on Tuesday. The company has a market capitalization of $1.48 billion, a P/E ratio of -8.30 and a beta of 1.36. ArriVent BioPharma, Inc. has a 12-month low of $17.00 and a 12-month high of $35.83. The firm has a 50-day moving average price of $31.56 and a two-hundred day moving average price of $28.46.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AVBP shares. HC Wainwright raised their price objective on shares of ArriVent BioPharma from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. BTIG Research reiterated a “buy” rating and set a $42.00 target price on shares of ArriVent BioPharma in a research note on Thursday, August 13th. Truist Financial lifted their price target on ArriVent BioPharma from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Cantor Fitzgerald restated an “overweight” rating on shares of ArriVent BioPharma in a research note on Friday, May 22nd. Finally, Guggenheim reaffirmed a “buy” rating and issued a $45.00 price objective on shares of ArriVent BioPharma in a report on Thursday, August 13th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, ArriVent BioPharma has an average rating of “Moderate Buy” and a consensus price target of $44.86.

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.