Tema Etfs LLC Buys Shares of 32,007 ArriVent BioPharma, Inc. $AVBP

Tema Etfs LLC bought a new position in ArriVent BioPharma, Inc. (NASDAQ:AVBP) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 32,007 shares of the company’s stock, valued at approximately $644,000. Tema Etfs LLC owned about 0.08% of ArriVent BioPharma as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of ArriVent BioPharma during the 1st quarter valued at about $266,000. Woodline Partners LP increased its position in ArriVent BioPharma by 0.4% during the first quarter. Woodline Partners LP now owns 146,373 shares of the company’s stock worth $2,706,000 after purchasing an additional 576 shares during the last quarter. Jane Street Group LLC acquired a new stake in ArriVent BioPharma during the first quarter worth about $189,000. Legal & General Group Plc raised its stake in ArriVent BioPharma by 8.8% during the second quarter. Legal & General Group Plc now owns 14,790 shares of the company’s stock worth $322,000 after purchasing an additional 1,197 shares during the period. Finally, Walleye Capital LLC purchased a new position in ArriVent BioPharma during the second quarter worth about $206,000. Hedge funds and other institutional investors own 9.48% of the company’s stock.

Wall Street Analysts Forecast Growth

AVBP has been the subject of several analyst reports. HC Wainwright increased their price target on shares of ArriVent BioPharma from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, March 6th. B. Riley Financial upped their price objective on ArriVent BioPharma from $37.00 to $45.00 and gave the company a “buy” rating in a report on Monday, March 23rd. Oppenheimer reiterated an “outperform” rating and issued a $50.00 price objective (up from $44.00) on shares of ArriVent BioPharma in a research report on Friday, March 6th. Truist Financial raised ArriVent BioPharma to a “strong-buy” rating in a research note on Wednesday, March 25th. Finally, Cantor Fitzgerald began coverage on ArriVent BioPharma in a research report on Monday, December 22nd. They issued an “overweight” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, ArriVent BioPharma currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.67.

ArriVent BioPharma Stock Up 2.8%

NASDAQ:AVBP opened at $24.89 on Friday. ArriVent BioPharma, Inc. has a 52 week low of $15.47 and a 52 week high of $27.22. The stock’s fifty day moving average is $23.05 and its two-hundred day moving average is $21.42. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -5.64 and a beta of 0.85.

ArriVent BioPharma (NASDAQ:AVBP) last posted its quarterly earnings data 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, sell-side analysts expect that ArriVent BioPharma, Inc. will post -2.74 EPS for the current fiscal year.

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.