Barclays PLC Buys 38,132 Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP)

Barclays PLC boosted its position in ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) by 1,124.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,522 shares of the company's stock after buying 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.

Several other institutional investors have also recently bought and sold shares of AVBP. Rhumbline Advisers grew its position in shares of ArriVent BioPharma by 30.1% in the second quarter. Rhumbline Advisers now owns 12,707 shares of the company's stock valued at $236,000 after purchasing an additional 2,942 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in ArriVent BioPharma in the 3rd quarter valued at approximately $240,000. SG Americas Securities LLC bought a new position in ArriVent BioPharma in the 3rd quarter worth approximately $280,000. MetLife Investment Management LLC lifted its holdings in shares of 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. Finally, BNP Paribas Financial Markets boosted its position in shares of ArriVent BioPharma by 32.6% in the third quarter. BNP Paribas Financial Markets now owns 21,965 shares of the company's stock valued at $516,000 after acquiring an additional 5,397 shares during the period. Institutional investors own 9.48% of the company's stock.

ArriVent BioPharma Price Performance

Shares of ArriVent BioPharma stock traded down $0.31 during trading on Tuesday, hitting $26.64. 87,561 shares of the company's stock traded hands, compared to its average volume of 171,685. The firm's fifty day moving average price is $29.10 and its 200 day moving average price is $25.07. ArriVent BioPharma, Inc. has a twelve month low of $14.35 and a twelve month high of $36.37.

Analyst Ratings Changes

AVBP has been the topic of a number of research reports. Oppenheimer reaffirmed an "outperform" rating and set a $39.00 target price (up previously from $35.00) on shares of ArriVent BioPharma in a research report on Tuesday, September 10th. HC Wainwright reaffirmed a "buy" rating and set a $36.00 price objective on shares of ArriVent BioPharma in a research report on Friday, November 15th. The Goldman Sachs Group increased their target price 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 boosted their price target on ArriVent BioPharma from $30.00 to $36.00 and gave the company a "buy" rating in a research note on Wednesday, September 11th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, ArriVent BioPharma currently has an average rating of "Buy" and a consensus price target 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.