Mirae Asset Global Investments Co. Ltd. Makes New Investment in ArriVent BioPharma, Inc. (NASDAQ:AVBP)

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,123 shares of the company’s stock, valued at approximately $31,000.

Other large investors also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. acquired a new position in ArriVent BioPharma in the fourth quarter valued at $190,000. The Manufacturers Life Insurance Company acquired a new position in ArriVent BioPharma in the third quarter valued at $240,000. SG Americas Securities LLC acquired a new position in ArriVent BioPharma in the third quarter valued at $280,000. JPMorgan Chase & Co. boosted its holdings in ArriVent BioPharma by 183.2% in the third quarter. JPMorgan Chase & Co. now owns 12,445 shares of the company’s stock valued at $292,000 after acquiring an additional 8,050 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in ArriVent BioPharma by 168.9% in the third quarter. MetLife Investment Management LLC now owns 16,350 shares of the company’s stock valued at $384,000 after acquiring an additional 10,269 shares during the last quarter. Hedge funds and other institutional investors own 9.48% of the company’s stock.

ArriVent BioPharma Stock Down 0.9 %

NASDAQ AVBP opened at $26.60 on Friday. ArriVent BioPharma, Inc. has a 1 year low of $14.35 and a 1 year high of $36.37. The business’s fifty day moving average is $26.79 and its two-hundred day moving average is $26.90.

Wall Street Analyst Weigh In

Separately, HC Wainwright lifted their target price on ArriVent BioPharma from $36.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $37.40.

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.