ArriVent BioPharma, Inc. (NASDAQ:AVBP) Shares Acquired by State Street Corp

State Street Corp grew its stake in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) by 210.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 476,809 shares of the company’s stock after purchasing an additional 323,186 shares during the period. State Street Corp’s holdings in ArriVent BioPharma were worth $11,205,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Novo Holdings A S raised its holdings in ArriVent BioPharma by 39.3% during the 2nd 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. FMR LLC raised its holdings in shares of ArriVent BioPharma by 8.7% during the third quarter. FMR LLC now owns 2,119,695 shares of the company’s stock valued at $49,813,000 after acquiring an additional 169,514 shares during the period. Suvretta Capital Management LLC raised its holdings in shares of ArriVent BioPharma by 7.7% during the third quarter. Suvretta Capital Management LLC now owns 1,845,162 shares of the company’s stock valued at $43,361,000 after acquiring an additional 132,459 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of ArriVent BioPharma by 153.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 202,368 shares of the company’s stock valued at $4,756,000 after acquiring an additional 122,641 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in ArriVent BioPharma in the 3rd quarter worth approximately $280,000. Institutional investors and hedge funds own 9.48% of the company’s stock.

ArriVent BioPharma Stock Up 2.3 %

Shares of ArriVent BioPharma stock opened at $26.63 on Thursday. ArriVent BioPharma, Inc. has a 12 month low of $14.35 and a 12 month high of $36.37. The business has a fifty day simple moving average of $29.20 and a 200 day simple moving average of $24.84.

Analysts Set New Price Targets

Several analysts recently commented on AVBP shares. The Goldman Sachs Group raised their price target on shares of ArriVent BioPharma from $28.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. HC Wainwright reissued a “buy” rating and set a $36.00 target price on shares of ArriVent BioPharma in a research note on Friday, November 15th. Oppenheimer reaffirmed an “outperform” rating and issued a $39.00 price target (up from $35.00) on shares of ArriVent BioPharma in a research note on Tuesday, September 10th. Finally, Citigroup lifted their price objective on ArriVent BioPharma from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $36.80.

About ArriVent BioPharma

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.