ArriVent BioPharma, Inc. (NASDAQ:AVBP) Stake Lifted by State Street Corp

State Street Corp raised its stake in ArriVent BioPharma, Inc. (NASDAQ:AVBP) by 210.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 476,809 shares of the company’s stock after buying an additional 323,186 shares during the quarter. State Street Corp owned approximately 1.42% of ArriVent BioPharma worth $11,205,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC boosted its stake in ArriVent BioPharma by 8.7% during the 3rd quarter. FMR LLC now owns 2,119,695 shares of the company’s stock valued at $49,813,000 after purchasing 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 buying an additional 132,459 shares during the last quarter. Novo Holdings A S boosted its position in shares of ArriVent BioPharma by 0.4% during the third quarter. Novo Holdings A S now owns 1,505,315 shares of the company’s stock worth $35,375,000 after buying an additional 5,315 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in ArriVent BioPharma by 153.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 202,368 shares of the company’s stock worth $4,756,000 after buying an additional 122,641 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in ArriVent BioPharma by 31.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 29,847 shares of the company’s stock valued at $554,000 after acquiring an additional 7,140 shares during the period. Institutional investors and hedge funds own 9.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $36.00 price target on shares of ArriVent BioPharma in a research report on Friday, November 15th. Citigroup increased 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. The Goldman Sachs Group raised their target price on shares of ArriVent BioPharma from $28.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, 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. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $36.80.

ArriVent BioPharma Trading Up 2.3 %

Shares of ArriVent BioPharma stock opened at $26.63 on Thursday. ArriVent BioPharma, Inc. has a 52 week low of $14.35 and a 52 week high of $36.37. The company’s 50-day moving average price is $29.20 and its two-hundred day moving average price is $24.84.

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.