Fmr LLC Purchases 169,514 Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP)

FMR LLC grew its holdings in ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) by 8.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,119,695 shares of the company's stock after acquiring an additional 169,514 shares during the quarter. FMR LLC owned 6.31% of ArriVent BioPharma worth $49,813,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Rhumbline Advisers boosted its position in shares of ArriVent BioPharma by 30.1% during 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 during the period. The Manufacturers Life Insurance Company acquired a new position in shares of ArriVent BioPharma during the third quarter worth about $240,000. SG Americas Securities LLC acquired a new position in shares of ArriVent BioPharma during the third quarter worth about $280,000. Bank of New York Mellon Corp boosted its position in shares of 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 worth $554,000 after buying an additional 7,140 shares during the period. Finally, AlphaCentric Advisors LLC boosted its position in shares of ArriVent BioPharma by 3.6% during the second quarter. AlphaCentric Advisors LLC now owns 86,000 shares of the company's stock worth $1,595,000 after buying an additional 3,000 shares during the period. 9.48% of the stock is currently owned by institutional investors.

ArriVent BioPharma Stock Performance

NASDAQ AVBP traded up $0.71 during trading hours on Friday, hitting $29.26. 111,169 shares of the company traded hands, compared to its average volume of 162,996. The business's 50-day moving average is $29.23 and its 200-day moving average is $24.14. ArriVent BioPharma, Inc. has a twelve month low of $14.35 and a twelve month high of $36.37.

Wall Street Analysts Forecast Growth

AVBP has been the subject of several recent research reports. 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. Oppenheimer reaffirmed an "outperform" rating and set a $39.00 price objective (up from $35.00) on shares of ArriVent BioPharma in a research report on Tuesday, September 10th. The Goldman Sachs Group increased their price target on ArriVent BioPharma from $28.00 to $38.00 and gave the company a "buy" rating in a research report on Tuesday, September 10th. Finally, Citigroup increased their price target on 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.com, ArriVent BioPharma has an average rating of "Buy" and a consensus price target of $36.80.

ArriVent BioPharma 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.