ArriVent BioPharma
AVBP on Nasdaq. Pharmaceutical preparations. Market value $1.4bn.
Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.
Cash flow or capital spending isn't reported, so free cash flow is unknown.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
What to watch out for
See Health care stocks that passed both tests
This is not advice. Check the numbers below.
We could not compute this from the filings.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: not known. Price score: 16 of 100. Our list needs 70 on quality and 60 on price.
$15.09 a share, 33% above its 1-year low
Over the past year the price has ranged from $11.36 to $35.83.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | ||
| Revenue | n/a | n/a |
| Operating margin | ||
| Operating margin | n/a | n/a |
| Debt to equity | ||
| Debt to equity | 0.00 | 0.00 |
| Shares outstanding | ||
| Shares outstanding | 0.04bn | 0.05bn |
Health checks
- Free cash flow positiveNot enough data
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)Not enough data
- Profit backed by cash (accruals)Yes
- Debt0.00× equity
- Revenue growth, five yearsUnknown
- Buying back its own sharesNo, 19% more shares since 2024
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- A loss of $50 million, compared with a loss of $31 million a year ago.
- 36% more shares than a year ago. Each share owns a bit less of the company.
- It has $155 million more cash than debt, up from $113 million a year ago.
| Quarter to | Amount |
|---|---|
| September 2024 | -$21m |
| December 2024 | -$21m |
| March 2025 | -$64m |
| June 2025 | -$31m |
| September 2025 | -$35m |
| December 2025 | -$36m |
| March 2026 | -$43m |
| June 2026 | -$50m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 5 March 2026
- Next quarterly (estimated, 10-Q)
- 11 November 2026
Who owns it
None of the long-term investors we follow own it. 158 funds in all.
Largest holders overall
- Montanova Capital$157mAdded
- Infinitum Asset Management$154mAdded
- Hhlr Advisors$136m
- BlackRock$113mAdded
- Orbimed Advisors$105m
- FMR$97mCut
- Octagon Capital Advisors LP$68m
- Vanguard Capital Management$62mAdded
- Sofinnova Investments$59m
- State Street$59mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
10 investors own more than 5%.
- INFINITUM ASSET MANAGEMENT, LLCPassive investorat least 9.9%0.0 pts(filed with 2 related holders)Since 31 December 2025
- Infinitum Cayman Master, Ltd. (Fund)Passive investor9.9%Since 1 May 2025
- Suvretta Capital Management, LLCPassive investorat least 9.9%(filed with 2 related holders)Since 30 June 2025
- Hillhouse Investment Management, Ltd.Passive investor9.5%Since 31 December 2025
- ORBIMED ADVISORS LLCPassive investorat least 7.5%(filed with 3 related holders)Since 11 August 2025
What they said
The Shares acquired by the Reporting Persons were acquired for the purpose of making an investment in the Issuer and not with the intention of acquiring control of the Issuer's business on behalf of the Reporting Persons' respective advisory clients. The Reporting Persons from…
Read the filing - BlackRock, Inc.Passive investor6.8%+1.2 ptsSince 30 June 2026
- FMR LLCPassive investorat least 6.8%−1.6 pts(filed with 1 related holder)Since 31 March 2026
- HBM Healthcare Investments (Cayman) Ltd.Passive investor5.4%Since 8 October 2025
- Octagon Capital Advisors LPPassive investorat least 4.9%(filed with 4 related holders)Since 30 September 2025
- Sofinnova Venture Partners XI, L.P. ("SVP XI")Passive investorat least 4.1%(filed with 3 related holders)Since 31 December 2025
- Novo Holdings A/SPassive investorSold down below 5%Since 30 June 2025
- The Vanguard GroupPassive investorSold down below 5%Since 31 December 2025
| Holder | Stake | Since | |
|---|---|---|---|
INFINITUM ASSET MANAGEMENT, LLC Passive investor | at least 9.9%0.0 pts (filed with 2 related holders) | 31 December 2025 | |
Infinitum Cayman Master, Ltd. (Fund) Passive investor | 9.9% | 1 May 2025 | |
Suvretta Capital Management, LLC Passive investor | at least 9.9% (filed with 2 related holders) | 30 June 2025 | |
Hillhouse Investment Management, Ltd. Passive investor | 9.5% | 31 December 2025 | |
ORBIMED ADVISORS LLC Passive investor | at least 7.5% (filed with 3 related holders) | 11 August 2025 | What they saidThe Shares acquired by the Reporting Persons were acquired for the purpose of making an investment in the Issuer and not with the intention of acquiring control of the Issuer's business on behalf of the Reporting Persons' respective advisory clients. The Reporting Persons from… Read the filing |
BlackRock, Inc. Passive investor | 6.8%+1.2 pts | 30 June 2026 | |
FMR LLC Passive investor | at least 6.8%−1.6 pts (filed with 1 related holder) | 31 March 2026 | |
HBM Healthcare Investments (Cayman) Ltd. Passive investor | 5.4% | 8 October 2025 | |
Octagon Capital Advisors LP Passive investor | at least 4.9% (filed with 4 related holders) | 30 September 2025 | |
Sofinnova Venture Partners XI, L.P. ("SVP XI") Passive investor | at least 4.1% (filed with 3 related holders) | 31 December 2025 | |
Novo Holdings A/S Passive investor | Sold down below 5% | 30 June 2025 | |
The Vanguard Group Passive investor | Sold down below 5% | 31 December 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought or sold on the open market in the last 12 months.
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the serious warning signs we check for were found. 1 thing worth knowing.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 5 Mar 2026, plus the 10-Q filed 12 Aug 2026 and 6 later 8-Ks.
Changed auditor
Worth knowingThe company changed its auditor (the firm that checks its books) in the last two years.
“On March 11, 2025, the Audit Committee (the “Audit Committee”) of the Board of Directors of ArriVent BioPharma, Inc. (the “Company”) approved the dismissal of KPMG LLP (“KPMG”) as the Company’s independent registered public accounting firm.”
From an 8-K filed 13 March 2025: Change of auditor. Read it in the filing
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.