ArriVent BioPharma, Inc. (NASDAQ:AVBP) Shares Acquired by Novo Holdings A S

Novo Holdings A S boosted its holdings in ArriVent BioPharma, Inc. (NASDAQ:AVBP) by 39.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,500,000 shares of the company’s stock after purchasing an additional 422,860 shares during the period. ArriVent BioPharma comprises 1.4% of Novo Holdings A S’s portfolio, making the stock its 24th largest position. Novo Holdings A S’s holdings in ArriVent BioPharma were worth $27,825,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new position in shares of ArriVent BioPharma during the 1st quarter valued at approximately $83,000. Vanguard Group Inc. acquired a new stake in ArriVent BioPharma in the first quarter valued at $11,586,000. American International Group Inc. bought a new position in ArriVent BioPharma during the 1st quarter valued at $87,000. Altitude Crest Partners Inc. acquired a new position in ArriVent BioPharma during the 1st quarter worth $9,922,000. Finally, Hhlr Advisors LTD. acquired a new position in ArriVent BioPharma during the 1st quarter worth $70,174,000. Institutional investors and hedge funds own 9.48% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AVBP. HC Wainwright increased their price target on shares of ArriVent BioPharma from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. The Goldman Sachs Group upped their price objective on ArriVent BioPharma from $28.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Citigroup lifted their target price on ArriVent BioPharma from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Oppenheimer reissued an “outperform” rating and set a $39.00 price target (up from $35.00) on shares of ArriVent BioPharma in a research report on Tuesday, September 10th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, ArriVent BioPharma has an average rating of “Buy” and an average price target of $36.80.

ArriVent BioPharma Price Performance

Shares of NASDAQ AVBP opened at $23.00 on Monday. The firm’s 50-day moving average price is $23.87 and its two-hundred day moving average price is $20.09. ArriVent BioPharma, Inc. has a 52-week low of $14.35 and a 52-week high of $30.99.

ArriVent BioPharma (NASDAQ:AVBP) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.65) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.65). On average, analysts predict that ArriVent BioPharma, Inc. will post -3.03 EPS for the current 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.