ArriVent BioPharma, Inc. $AVBP Holdings Lowered by UBS Group AG

UBS Group AG trimmed its stake in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) by 9.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 450,920 shares of the company’s stock after selling 46,681 shares during the period. UBS Group AG’s holdings in ArriVent BioPharma were worth $9,073,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of ArriVent BioPharma by 45.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,743 shares of the company’s stock valued at $95,000 after purchasing an additional 1,485 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of ArriVent BioPharma by 27.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,006 shares of the company’s stock valued at $40,000 after purchasing an additional 438 shares during the last quarter. Tema Etfs LLC purchased a new stake in shares of ArriVent BioPharma during the fourth quarter valued at $644,000. SG Americas Securities LLC lifted its holdings in shares of ArriVent BioPharma by 39.2% during the fourth quarter. SG Americas Securities LLC now owns 51,437 shares of the company’s stock valued at $1,035,000 after purchasing an additional 14,495 shares during the last quarter. Finally, Woodline Partners LP lifted its holdings in shares of ArriVent BioPharma by 102.1% during the third quarter. Woodline Partners LP now owns 296,916 shares of the company’s stock valued at $5,478,000 after purchasing an additional 150,000 shares during the last quarter. 9.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. B. Riley Financial upped their target price on ArriVent BioPharma from $37.00 to $45.00 and gave the company a “buy” rating in a report on Monday, March 23rd. Oppenheimer reissued an “outperform” rating and issued a $50.00 price objective (up from $44.00) on shares of ArriVent BioPharma in a research note on Friday, March 6th. HC Wainwright increased their price objective on ArriVent BioPharma from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Citigroup reduced their price objective on ArriVent BioPharma from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $42.78.

ArriVent BioPharma Stock Performance

Shares of ArriVent BioPharma stock opened at $27.87 on Monday. The stock has a 50-day moving average price of $26.48 and a 200 day moving average price of $23.42. The company has a market cap of $1.30 billion, a P/E ratio of -8.03 and a beta of 1.51. ArriVent BioPharma, Inc. has a 1 year low of $16.10 and a 1 year high of $32.14.

ArriVent BioPharma (NASDAQ:AVBP) last issued its earnings results on Monday, May 11th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.08). On average, equities analysts forecast that ArriVent BioPharma, Inc. will post -3.72 earnings per share for the current fiscal 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.