Geode Capital Management LLC Increases Stake in ArriVent BioPharma, Inc. (NASDAQ:AVBP)

Geode Capital Management LLC boosted its position in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) by 154.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 597,165 shares of the company’s stock after purchasing an additional 362,221 shares during the quarter. Geode Capital Management LLC’s holdings in ArriVent BioPharma were worth $14,036,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Rhumbline Advisers grew its position in ArriVent BioPharma by 30.1% during the 2nd quarter. Rhumbline Advisers now owns 12,707 shares of the company’s stock valued at $236,000 after purchasing an additional 2,942 shares during the last quarter. Novo Holdings A S boosted its holdings in shares of ArriVent BioPharma by 0.4% during the 3rd quarter. Novo Holdings A S now owns 1,505,315 shares of the company’s stock valued at $35,375,000 after acquiring an additional 5,315 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of ArriVent BioPharma by 32.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 21,965 shares of the company’s stock valued at $516,000 after acquiring an additional 5,397 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of ArriVent BioPharma by 31.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 29,847 shares of the company’s stock valued at $554,000 after acquiring an additional 7,140 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of ArriVent BioPharma during the 3rd quarter valued at about $240,000. 9.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AVBP. Oppenheimer reaffirmed an “outperform” rating and set a $39.00 price target (up previously from $35.00) on shares of ArriVent BioPharma in a report on Tuesday, September 10th. Citigroup increased their price objective on shares of ArriVent BioPharma from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. HC Wainwright reiterated a “buy” rating and issued a $36.00 price objective on shares of ArriVent BioPharma in a research note on Friday, November 15th. Finally, The Goldman Sachs Group increased their price objective on shares of ArriVent BioPharma from $28.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $36.80.

ArriVent BioPharma Stock Performance

NASDAQ AVBP opened at $26.95 on Tuesday. ArriVent BioPharma, Inc. has a 12 month low of $14.35 and a 12 month high of $36.37. The company’s 50 day moving average is $29.14 and its two-hundred day moving average is $25.01.

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.