AlphaCentric Advisors LLC Sells 71,000 Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP)

AlphaCentric Advisors LLC trimmed its position in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) by 82.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,000 shares of the company’s stock after selling 71,000 shares during the quarter. AlphaCentric Advisors LLC’s holdings in ArriVent BioPharma were worth $352,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in AVBP. BNP Paribas Financial Markets bought a new stake in ArriVent BioPharma during the first quarter worth about $83,000. Vanguard Group Inc. bought a new stake in shares of ArriVent BioPharma during the first quarter valued at approximately $11,586,000. American International Group Inc. bought a new stake in shares of ArriVent BioPharma during the first quarter valued at approximately $87,000. Altitude Crest Partners Inc. bought a new stake in shares of ArriVent BioPharma during the first quarter valued at approximately $9,922,000. Finally, Hhlr Advisors LTD. bought a new stake in shares of ArriVent BioPharma during the first quarter valued at approximately $70,174,000. 9.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AVBP. Citigroup increased their price objective on shares of ArriVent BioPharma from $30.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Oppenheimer reiterated an “outperform” rating and issued a $39.00 target price (up from $35.00) on shares of ArriVent BioPharma in a report on Tuesday, September 10th. HC Wainwright raised their price objective on shares of ArriVent BioPharma from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, The Goldman Sachs Group raised their price objective on shares of ArriVent BioPharma from $28.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, ArriVent BioPharma has a consensus rating of “Buy” and a consensus target price of $36.80.

ArriVent BioPharma Stock Up 2.3 %

ArriVent BioPharma stock opened at $31.49 on Tuesday. ArriVent BioPharma, Inc. has a 1-year low of $14.35 and a 1-year high of $32.40. The company has a fifty day simple moving average of $27.02 and a 200 day simple moving average of $22.08.

ArriVent BioPharma (NASDAQ:AVBP) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.65) EPS for the quarter, meeting analysts’ consensus estimates of ($0.65). On average, equities analysts expect that ArriVent BioPharma, Inc. will post -3.03 earnings per share 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.