AlphaCentric Advisors LLC Has $352,000 Stake in ArriVent BioPharma, Inc. (NASDAQ:AVBP)

AlphaCentric Advisors LLC decreased its holdings in ArriVent BioPharma, Inc. (NASDAQ:AVBP) by 82.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,000 shares of the company’s stock after selling 71,000 shares during the quarter. AlphaCentric Advisors LLC’s holdings in ArriVent BioPharma were worth $352,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Hhlr Advisors LTD. acquired a new stake in ArriVent BioPharma in the 1st quarter worth about $70,174,000. Novo Holdings A S raised its stake in ArriVent BioPharma by 0.4% in the 3rd quarter. Novo Holdings A S now owns 1,505,315 shares of the company’s stock worth $35,375,000 after purchasing an additional 5,315 shares in the last quarter. Vanguard Group Inc. acquired a new stake in ArriVent BioPharma in the 1st quarter worth about $11,586,000. Altitude Crest Partners Inc. acquired a new stake in ArriVent BioPharma in the 1st quarter worth about $9,922,000. Finally, Farallon Capital Management LLC acquired a new stake in ArriVent BioPharma in the 1st quarter worth about $2,711,000. 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 $31.49 on Tuesday. ArriVent BioPharma, Inc. has a 1 year low of $14.35 and a 1 year high of $32.40. The firm’s 50 day moving average is $27.02 and its 200 day moving average is $22.08.

ArriVent BioPharma (NASDAQ:AVBP) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.65) EPS for the quarter, meeting analysts’ consensus estimates of ($0.65). As a group, analysts predict that ArriVent BioPharma, Inc. will post -3.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Citigroup boosted their target price on shares of ArriVent BioPharma from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Oppenheimer restated an “outperform” rating and issued a $39.00 target price (up from $35.00) on shares of ArriVent BioPharma in a research report on Tuesday, September 10th. HC Wainwright boosted their target price on shares of ArriVent BioPharma from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, The Goldman Sachs Group boosted their target price on shares of ArriVent BioPharma from $28.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ArriVent BioPharma presently has a consensus rating of “Buy” and an average target price 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.