Charles Schwab Investment Management Inc. Has $5.50 Million Stake in ArriVent BioPharma, Inc. (NASDAQ:AVBP)

Charles Schwab Investment Management Inc. grew its stake in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 206,379 shares of the company’s stock after buying an additional 4,011 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.61% of ArriVent BioPharma worth $5,498,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. New York State Common Retirement Fund lifted its position in ArriVent BioPharma by 34.6% during the fourth quarter. New York State Common Retirement Fund now owns 7,783 shares of the company’s stock worth $207,000 after acquiring an additional 2,000 shares during the last quarter. Rhumbline Advisers raised its position in shares of ArriVent BioPharma by 9.1% during the fourth quarter. Rhumbline Advisers now owns 36,690 shares of the company’s stock worth $977,000 after acquiring an additional 3,069 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of ArriVent BioPharma during the fourth quarter worth $31,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of ArriVent BioPharma in the 4th quarter valued at about $190,000. Finally, 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. 9.48% of the stock is currently owned by institutional investors.

ArriVent BioPharma Stock Performance

AVBP stock opened at $18.99 on Wednesday. The firm’s fifty day moving average is $24.70 and its 200 day moving average is $26.62. ArriVent BioPharma, Inc. has a 52 week low of $14.35 and a 52 week high of $36.37. The firm has a market cap of $645.96 million, a P/E ratio of -7.39 and a beta of 1.00.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on AVBP shares. B. Riley initiated coverage on shares of ArriVent BioPharma in a research note on Thursday, March 20th. They issued a “buy” rating and a $37.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $39.00 target price on shares of ArriVent BioPharma in a research report on Friday, March 7th. Finally, Guggenheim assumed coverage on ArriVent BioPharma in a research report on Monday, March 10th. They issued a “buy” rating and a $45.00 price target for the company. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $39.00.

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.