Montanova Capital LLC Raises Stock Holdings in ArriVent BioPharma, Inc. $AVBP

Montanova Capital LLC boosted its stake in ArriVent BioPharma, Inc. (NASDAQ:AVBP) by 2.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,515,531 shares of the company’s stock after purchasing an additional 114,448 shares during the quarter. ArriVent BioPharma comprises 2.6% of Montanova Capital LLC’s investment portfolio, making the stock its 6th biggest position. Montanova Capital LLC owned 0.09% of ArriVent BioPharma worth $156,870,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of AVBP. Wellington Management Group LLP grew its stake in ArriVent BioPharma by 0.7% during the fourth quarter. Wellington Management Group LLP now owns 82,278 shares of the company’s stock worth $1,655,000 after buying an additional 532 shares in the last quarter. Woodline Partners LP raised its position in shares of ArriVent BioPharma by 0.4% in the 1st quarter. Woodline Partners LP now owns 146,373 shares of the company’s stock valued at $2,706,000 after buying an additional 576 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of ArriVent BioPharma by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,743 shares of the company’s stock valued at $297,000 after buying an additional 585 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of ArriVent BioPharma by 31.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company’s stock valued at $56,000 after buying an additional 609 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of ArriVent BioPharma by 8.8% during the 2nd quarter. Legal & General Group Plc now owns 14,790 shares of the company’s stock worth $322,000 after acquiring an additional 1,197 shares during the period. Institutional investors own 9.48% of the company’s stock.

ArriVent BioPharma Price Performance

AVBP stock opened at $30.05 on Tuesday. The company has a 50 day simple moving average of $31.56 and a 200 day simple moving average of $28.46. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -8.30 and a beta of 1.36. ArriVent BioPharma, Inc. has a 1 year low of $17.00 and a 1 year high of $35.83.

ArriVent BioPharma (NASDAQ:AVBP) last issued its earnings results on Wednesday, August 12th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.06). On average, equities research analysts anticipate that ArriVent BioPharma, Inc. will post -4.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AVBP. BTIG Research reiterated a “buy” rating and set a $42.00 price target on shares of ArriVent BioPharma in a research report on Thursday, August 13th. Weiss Ratings restated a “sell (d-)” rating on shares of ArriVent BioPharma in a research note on Friday, July 17th. HC Wainwright raised their target price on ArriVent BioPharma from $44.00 to $47.00 and gave the company a “buy” rating in a report on Monday, August 17th. Citigroup reduced their target price on ArriVent BioPharma from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of ArriVent BioPharma in a research note on Friday, May 22nd. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, ArriVent BioPharma has a consensus rating of “Moderate Buy” and an average target price of $44.86.

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. 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.