Rhumbline Advisers Purchases 3,069 Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP)

Rhumbline Advisers increased its holdings in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) by 9.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,690 shares of the company’s stock after acquiring an additional 3,069 shares during the period. Rhumbline Advisers owned about 0.11% of ArriVent BioPharma worth $977,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of ArriVent BioPharma during the 4th quarter valued at $31,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of ArriVent BioPharma during the fourth quarter worth $190,000. The Manufacturers Life Insurance Company bought a new stake in ArriVent BioPharma in the third quarter valued at about $240,000. JPMorgan Chase & Co. lifted its stake 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 buying an additional 8,050 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in ArriVent BioPharma by 168.9% during the third quarter. MetLife Investment Management LLC now owns 16,350 shares of the company’s stock worth $384,000 after buying an additional 10,269 shares during the last quarter. 9.48% of the stock is owned by institutional investors and hedge funds.

ArriVent BioPharma Stock Down 2.9 %

AVBP opened at $21.81 on Friday. ArriVent BioPharma, Inc. has a 12-month low of $14.35 and a 12-month high of $36.37. The business has a 50 day moving average of $26.32 and a 200-day moving average of $27.12.

ArriVent BioPharma (NASDAQ:AVBP) last released its quarterly earnings results on Monday, March 3rd. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.18. Analysts forecast that ArriVent BioPharma, Inc. will post -2.74 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright lifted their price target on shares of ArriVent BioPharma from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd.

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.