Moody Aldrich Partners LLC Takes $1.56 Million Position in ArriVent BioPharma, Inc. $AVBP

Moody Aldrich Partners LLC bought a new position in ArriVent BioPharma, Inc. (NASDAQ:AVBP) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 71,575 shares of the company’s stock, valued at approximately $1,558,000. Moody Aldrich Partners LLC owned about 0.21% of ArriVent BioPharma at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AVBP. Vanguard Group Inc. grew its holdings in ArriVent BioPharma by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 1,503,358 shares of the company’s stock valued at $27,797,000 after buying an additional 86,067 shares in the last quarter. Nuveen LLC bought a new position in shares of ArriVent BioPharma during the 1st quarter valued at approximately $819,000. Wellington Management Group LLP grew its holdings in shares of ArriVent BioPharma by 46.3% in the first quarter. Wellington Management Group LLP now owns 61,348 shares of the company’s stock valued at $1,134,000 after purchasing an additional 19,427 shares in the last quarter. Infinitum Asset Management LLC grew its holdings in shares of ArriVent BioPharma by 25.7% in the first quarter. Infinitum Asset Management LLC now owns 2,066,238 shares of the company’s stock valued at $38,205,000 after purchasing an additional 422,315 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in ArriVent BioPharma in the first quarter worth $266,000. 9.48% of the stock is currently owned by hedge funds and other institutional investors.

ArriVent BioPharma Trading Down 1.1%

AVBP stock opened at $18.47 on Friday. ArriVent BioPharma, Inc. has a 12 month low of $15.47 and a 12 month high of $36.37. The company has a 50-day moving average price of $19.21 and a 200 day moving average price of $20.31. The stock has a market cap of $749.33 million, a PE ratio of -4.59 and a beta of 1.11.

ArriVent BioPharma (NASDAQ:AVBP) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.20). Sell-side analysts forecast that ArriVent BioPharma, Inc. will post -2.74 EPS for the current year.

Wall Street Analysts Forecast Growth

AVBP has been the subject of several research reports. Zacks Research lowered shares of ArriVent BioPharma from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. The Goldman Sachs Group upgraded shares of ArriVent BioPharma to a “buy” rating and set a $33.00 target price on the stock in a research report on Thursday, July 10th. Citigroup reaffirmed a “buy” rating and issued a $33.00 price target (down previously from $40.00) on shares of ArriVent BioPharma in a report on Tuesday, August 12th. B. Riley raised ArriVent BioPharma to a “strong-buy” rating in a research note on Monday, August 25th. Finally, HC Wainwright restated a “buy” rating and set a $42.00 price objective (up from $40.00) on shares of ArriVent BioPharma in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $39.14.

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.