The Manufacturers Life Insurance Company Purchases Shares of 10,234 ArriVent BioPharma, Inc. (NASDAQ:AVBP)

The Manufacturers Life Insurance Company bought a new stake in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,234 shares of the company’s stock, valued at approximately $240,000.

Several other large investors have also modified their holdings of AVBP. Rhumbline Advisers boosted its stake in ArriVent BioPharma by 30.1% in the 2nd quarter. Rhumbline Advisers now owns 12,707 shares of the company’s stock worth $236,000 after purchasing an additional 2,942 shares during the period. SG Americas Securities LLC purchased a new stake in shares of ArriVent BioPharma in the third quarter valued at $280,000. Bank of New York Mellon Corp boosted its position in shares of 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 worth $554,000 after buying an additional 7,140 shares during the period. AlphaCentric Advisors LLC grew its holdings in shares of ArriVent BioPharma by 3.6% during the second quarter. AlphaCentric Advisors LLC now owns 86,000 shares of the company’s stock valued at $1,595,000 after buying an additional 3,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings 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 purchasing an additional 122,641 shares during the period. 9.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

ArriVent BioPharma Stock Performance

ArriVent BioPharma stock opened at $26.48 on Tuesday. ArriVent BioPharma, Inc. has a 1 year low of $14.35 and a 1 year high of $36.37. The company’s 50-day moving average is $29.46 and its two-hundred day moving average is $24.51.

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.