Swiss National Bank Invests $703,000 in ArriVent BioPharma, Inc. (NASDAQ:AVBP)

Swiss National Bank bought a new position in ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 26,400 shares of the company's stock, valued at approximately $703,000. Swiss National Bank owned 0.08% of ArriVent BioPharma at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AVBP. Mirae Asset Global Investments Co. Ltd. purchased a new stake in ArriVent BioPharma in the fourth quarter worth about $31,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of ArriVent BioPharma in the 4th quarter valued at about $190,000. New York State Common Retirement Fund lifted its position in shares of ArriVent BioPharma by 34.6% in the 4th 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 position in shares of ArriVent BioPharma during the third quarter valued at approximately $240,000. Finally, JPMorgan Chase & Co. increased its holdings in ArriVent BioPharma by 183.2% during 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.

ArriVent BioPharma Stock Performance

NASDAQ:AVBP traded down $0.03 during mid-day trading on Wednesday, hitting $18.00. 277,235 shares of the company's stock traded hands, compared to its average volume of 164,312. The company has a fifty day moving average of $23.90 and a 200 day moving average of $26.31. ArriVent BioPharma, Inc. has a twelve month low of $14.35 and a twelve month high of $36.37. The company has a market capitalization of $612.29 million, a P/E ratio of -7.00 and a beta of 1.00.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.18. On average, research analysts expect that ArriVent BioPharma, Inc. will post -2.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AVBP shares. B. Riley assumed coverage on ArriVent BioPharma in a report on Thursday, March 20th. They set a "buy" rating and a $37.00 target price for the company. Guggenheim initiated coverage on ArriVent BioPharma in a research note on Monday, March 10th. They set a "buy" rating and a $45.00 price objective for the company. Finally, 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. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ArriVent BioPharma currently has an average rating of "Buy" and a consensus price target of $39.00.

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.