State Street Corp Acquires 323,186 Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP)

State Street Corp grew its holdings in ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) by 210.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 476,809 shares of the company's stock after purchasing an additional 323,186 shares during the quarter. State Street Corp owned about 1.42% of ArriVent BioPharma worth $11,205,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in AVBP. FMR LLC grew its position in ArriVent BioPharma by 8.7% in the 3rd quarter. FMR LLC now owns 2,119,695 shares of the company's stock worth $49,813,000 after purchasing an additional 169,514 shares during the last quarter. Suvretta Capital Management LLC lifted its stake in shares of ArriVent BioPharma by 7.7% in 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 period. Novo Holdings A S lifted its stake in shares of ArriVent BioPharma by 0.4% in the third quarter. Novo Holdings A S now owns 1,505,315 shares of the company's stock valued at $35,375,000 after buying an additional 5,315 shares during the period. Charles Schwab Investment Management Inc. grew its position in ArriVent BioPharma by 153.8% during the third 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 stake in ArriVent BioPharma by 31.4% during the second 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. 9.48% of the stock is currently owned by institutional investors.

ArriVent BioPharma Stock Performance

ArriVent BioPharma stock traded up $0.95 during mid-day trading on Thursday, hitting $27.58. 70,076 shares of the company were exchanged, compared to its average volume of 172,148. The business has a fifty day moving average of $29.20 and a 200 day moving average of $24.84. ArriVent BioPharma, Inc. has a 1-year low of $14.35 and a 1-year high of $36.37.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Oppenheimer reiterated an "outperform" rating and issued a $39.00 price objective (up previously from $35.00) on shares of ArriVent BioPharma in a research report on Tuesday, September 10th. HC Wainwright reiterated a "buy" rating and set a $36.00 price target on shares of ArriVent BioPharma in a research note on Friday, November 15th. The Goldman Sachs Group increased their price objective 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, Citigroup lifted 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. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, ArriVent BioPharma has a consensus rating of "Buy" and an average price target of $36.80.

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.