SG Americas Securities LLC Buys Shares of 11,927 ArriVent BioPharma, Inc. (NASDAQ:AVBP)

SG Americas Securities LLC bought a new stake in ArriVent BioPharma, Inc. (NASDAQ:AVBP) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,927 shares of the company’s stock, valued at approximately $280,000.

Other hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new position in ArriVent BioPharma in the first quarter valued at about $83,000. American International Group Inc. purchased a new position in shares of ArriVent BioPharma during the 1st quarter worth approximately $87,000. Rhumbline Advisers increased its stake in shares of ArriVent BioPharma by 30.1% during 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 in the last quarter. Blackstone Inc. purchased a new position in shares of ArriVent BioPharma during the 1st quarter worth approximately $446,000. Finally, Bank of New York Mellon Corp increased its stake in shares of ArriVent BioPharma by 31.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 29,847 shares of the company’s stock worth $554,000 after purchasing an additional 7,140 shares in the last quarter. 9.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. 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 research note on Tuesday, September 10th. Citigroup raised their price objective on shares of ArriVent BioPharma from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. HC Wainwright raised their price objective on shares of ArriVent BioPharma from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, Oppenheimer reissued an “outperform” rating and set a $39.00 price objective (up from $35.00) on shares of ArriVent BioPharma in a research note on Tuesday, September 10th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $36.80.

ArriVent BioPharma Stock Performance

Shares of NASDAQ AVBP opened at $29.16 on Monday. ArriVent BioPharma, Inc. has a 1 year low of $14.35 and a 1 year high of $30.99. The firm’s 50 day moving average price is $25.56 and its 200 day moving average price is $21.03.

ArriVent BioPharma (NASDAQ:AVBP) last announced its earnings results on Wednesday, August 14th. The company reported ($0.65) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.65). On average, equities research analysts forecast that ArriVent BioPharma, Inc. will post -3.03 earnings per share for the current fiscal year.

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.