AlphaCentric Advisors LLC Cuts Stock Holdings in ArriVent BioPharma, Inc. (NASDAQ:AVBP)

AlphaCentric Advisors LLC trimmed its position in ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) by 82.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,000 shares of the company's stock after selling 71,000 shares during the period. AlphaCentric Advisors LLC's holdings in ArriVent BioPharma were worth $352,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of AVBP. BNP Paribas Financial Markets acquired a new position in ArriVent BioPharma during the 1st quarter worth approximately $83,000. American International Group Inc. acquired a new position in ArriVent BioPharma during the first quarter worth $87,000. SG Americas Securities LLC bought a new stake in ArriVent BioPharma during the third quarter worth $280,000. Rhumbline Advisers lifted its stake in 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 acquiring an additional 2,942 shares during the last quarter. Finally, Blackstone Inc. bought a new position in shares of ArriVent BioPharma in the 1st quarter valued at about $446,000. 9.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AVBP has been the subject of several research analyst reports. HC Wainwright lifted their target price on ArriVent BioPharma from $30.00 to $36.00 and gave the stock a "buy" rating in a research note on Tuesday, September 10th. Oppenheimer reaffirmed an "outperform" rating and set a $39.00 target price (up from $35.00) on shares of ArriVent BioPharma in a report on Tuesday, September 10th. Citigroup upped their price objective on shares of ArriVent BioPharma from $30.00 to $36.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th. Finally, The Goldman Sachs Group raised their target price on shares of ArriVent BioPharma from $28.00 to $38.00 and gave the company a "buy" rating in a report on Tuesday, September 10th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $36.80.

ArriVent BioPharma Stock Up 1.4 %

Shares of NASDAQ:AVBP traded up $0.45 during trading on Tuesday, hitting $31.94. 48,229 shares of the company were exchanged, compared to its average volume of 172,832. ArriVent BioPharma, Inc. has a 1-year low of $14.35 and a 1-year high of $32.40. The business's 50 day moving average is $27.02 and its 200-day moving average is $22.08.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.65) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.65). On average, equities analysts predict that ArriVent BioPharma, Inc. will post -3.03 EPS for the current fiscal year.

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.