Barclays PLC Boosts Position in ArriVent BioPharma, Inc. (NASDAQ:AVBP)

Barclays PLC grew its holdings in ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) by 1,124.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,522 shares of the company's stock after purchasing an additional 38,132 shares during the quarter. Barclays PLC owned approximately 0.12% of ArriVent BioPharma worth $976,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Rhumbline Advisers raised its stake in ArriVent BioPharma by 30.1% in the second quarter. Rhumbline Advisers now owns 12,707 shares of the company's stock worth $236,000 after buying an additional 2,942 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of ArriVent BioPharma in the 3rd quarter valued at $240,000. SG Americas Securities LLC bought a new position in shares of ArriVent BioPharma in the 3rd quarter worth $280,000. MetLife Investment Management LLC lifted its stake in shares of ArriVent BioPharma by 168.9% during the 3rd quarter. MetLife Investment Management LLC now owns 16,350 shares of the company's stock worth $384,000 after purchasing an additional 10,269 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in ArriVent BioPharma by 32.6% during the third quarter. BNP Paribas Financial Markets now owns 21,965 shares of the company's stock valued at $516,000 after purchasing an additional 5,397 shares in the last quarter. Hedge funds and other institutional investors own 9.48% of the company's stock.

ArriVent BioPharma Stock Up 0.3 %

AVBP stock traded up $0.07 on Wednesday, hitting $24.92. 154,059 shares of the company's stock were exchanged, compared to its average volume of 134,711. The firm has a 50 day moving average price of $28.08 and a two-hundred day moving average price of $25.74. ArriVent BioPharma, Inc. has a 12-month low of $14.35 and a 12-month high of $36.37.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a "buy" rating and issued a $36.00 price target on shares of ArriVent BioPharma in a report on Friday, November 15th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $36.80.

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.