Charles Schwab Investment Management Inc. Raises Holdings in ArriVent BioPharma, Inc. (NASDAQ:AVBP)

Charles Schwab Investment Management Inc. boosted its holdings in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) by 153.8% during the third quarter, HoldingsChannel.com reports. The firm owned 202,368 shares of the company’s stock after purchasing an additional 122,641 shares during the period. Charles Schwab Investment Management Inc.’s holdings in ArriVent BioPharma were worth $4,756,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AVBP. AlphaCentric Advisors LLC lifted its position in shares of ArriVent BioPharma by 3.6% in the second quarter. AlphaCentric Advisors LLC now owns 86,000 shares of the company’s stock valued at $1,595,000 after acquiring an additional 3,000 shares in the last quarter. Novo Holdings A S boosted its position in shares of ArriVent BioPharma by 39.3% during the second quarter. Novo Holdings A S now owns 1,500,000 shares of the company’s stock worth $27,825,000 after buying an additional 422,860 shares during the period. Rhumbline Advisers boosted its position in shares of ArriVent BioPharma by 30.1% during the second quarter. Rhumbline Advisers now owns 12,707 shares of the company’s stock worth $236,000 after buying an additional 2,942 shares during the period. SG Americas Securities LLC purchased a new position in shares of ArriVent BioPharma during the third quarter worth $280,000. Finally, Bank of New York Mellon Corp boosted its holdings in ArriVent BioPharma by 31.4% in the second quarter. Bank of New York Mellon Corp now owns 29,847 shares of the company’s stock valued at $554,000 after purchasing an additional 7,140 shares during the period. Hedge funds and other institutional investors own 9.48% of the company’s stock.

ArriVent BioPharma Price Performance

ArriVent BioPharma stock opened at $26.72 on Friday. ArriVent BioPharma, Inc. has a fifty-two week low of $14.35 and a fifty-two week high of $36.37. The stock has a 50-day simple moving average of $29.48 and a 200-day simple moving average of $24.39.

Wall Street Analyst Weigh In

AVBP has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their target price on ArriVent BioPharma from $28.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Oppenheimer reaffirmed an “outperform” rating and set a $39.00 price target (up from $35.00) on shares of ArriVent BioPharma in a report on Tuesday, September 10th. HC Wainwright reaffirmed a “buy” rating and set a $36.00 price target on shares of ArriVent BioPharma in a report on Friday, November 15th. Finally, Citigroup lifted their price target on ArriVent BioPharma from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $36.80.

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.