Vanguard Group Inc. Purchases Shares of 648,735 ArriVent BioPharma, Inc. (NASDAQ:AVBP)

Vanguard Group Inc. acquired a new position in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 648,735 shares of the company’s stock, valued at approximately $11,586,000.

Separately, BNP Paribas Financial Markets acquired a new position in shares of ArriVent BioPharma during the first quarter worth $83,000. Institutional investors own 9.48% of the company’s stock.

ArriVent BioPharma Trading Up 3.2 %

AVBP opened at $23.11 on Wednesday. ArriVent BioPharma, Inc. has a one year low of $14.35 and a one year high of $25.95. The business’s 50-day simple moving average is $19.46 and its 200-day simple moving average is $19.13.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Oppenheimer began coverage on ArriVent BioPharma in a report on Monday, July 22nd. They issued an “outperform” rating and a $35.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $25.00 price target on shares of ArriVent BioPharma in a research note on Thursday, June 6th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $30.40.

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.