Intech Investment Management LLC Makes New $394,000 Investment in ArriVent BioPharma, Inc. (NASDAQ:AVBP)

Intech Investment Management LLC acquired a new position in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,798 shares of the company's stock, valued at approximately $394,000.

A number of other hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in ArriVent BioPharma during the fourth quarter valued at $31,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of ArriVent BioPharma during the 4th quarter valued at about $190,000. New York State Common Retirement Fund grew its stake in ArriVent BioPharma by 34.6% during the fourth quarter. New York State Common Retirement Fund now owns 7,783 shares of the company's stock worth $207,000 after purchasing an additional 2,000 shares during the period. The Manufacturers Life Insurance Company bought a new stake in ArriVent BioPharma in the third quarter worth approximately $240,000. Finally, JPMorgan Chase & Co. lifted its stake in ArriVent BioPharma by 183.2% in the third quarter. JPMorgan Chase & Co. now owns 12,445 shares of the company's stock valued at $292,000 after buying an additional 8,050 shares during the period. Institutional investors own 9.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AVBP shares. HC Wainwright reaffirmed a "buy" rating and set a $39.00 price objective on shares of ArriVent BioPharma in a research report on Friday, March 7th. Guggenheim initiated coverage on shares of ArriVent BioPharma in a report on Monday, March 10th. They issued a "buy" rating and a $45.00 price target for the company. Finally, B. Riley started coverage on shares of ArriVent BioPharma in a research note on Thursday, March 20th. They issued a "buy" rating and a $37.00 price target for the company. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $39.00.

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ArriVent BioPharma Trading Up 2.0 %

NASDAQ AVBP traded up $0.38 during trading hours on Friday, hitting $18.95. The company's stock had a trading volume of 121,155 shares, compared to its average volume of 162,890. The company has a market capitalization of $644.60 million, a PE ratio of -7.37 and a beta of 1.00. ArriVent BioPharma, Inc. has a 52 week low of $14.35 and a 52 week high of $36.37. The company's 50-day simple moving average is $24.34 and its two-hundred day simple moving average is $26.44.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last announced its earnings results on Monday, March 3rd. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.18. Research analysts anticipate that ArriVent BioPharma, Inc. will post -2.74 EPS for the current fiscal year.

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.