Short Interest in ArriVent BioPharma, Inc. (NASDAQ:AVBP) Expands By 6.1%

ArriVent BioPharma, Inc. (NASDAQ:AVBP) was the target of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 3,310,000 shares, an increase of 6.1% from the November 15th total of 3,120,000 shares. Based on an average daily volume of 249,100 shares, the short-interest ratio is currently 13.3 days. Currently, 17.0% of the shares of the company are short sold.

Institutional Investors Weigh In On ArriVent BioPharma

A number of hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in ArriVent BioPharma by 153.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 202,368 shares of the company’s stock worth $4,756,000 after purchasing an additional 122,641 shares during the last quarter. AlphaCentric Advisors LLC raised its position in ArriVent BioPharma by 3.6% during the second quarter. AlphaCentric Advisors LLC now owns 86,000 shares of the company’s stock valued at $1,595,000 after purchasing an additional 3,000 shares during the period. BNP Paribas Financial Markets increased its position 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 purchasing an additional 5,397 shares during the last quarter. Novo Holdings A S increased its position in ArriVent BioPharma by 39.3% during the second quarter. Novo Holdings A S now owns 1,500,000 shares of the company’s stock valued at $27,825,000 after acquiring an additional 422,860 shares during the last quarter. Finally, FMR LLC raised its stake in shares of ArriVent BioPharma by 8.7% in the third quarter. FMR LLC now owns 2,119,695 shares of the company’s stock valued at $49,813,000 after acquiring an additional 169,514 shares during the period. 9.48% of the stock is currently owned by hedge funds and other institutional investors.

ArriVent BioPharma Price Performance

Shares of ArriVent BioPharma stock traded up $0.07 during trading hours on Tuesday, hitting $26.55. The company’s stock had a trading volume of 3,036 shares, compared to its average volume of 170,659. The business has a 50 day moving average price of $29.46 and a two-hundred day moving average price of $24.51. ArriVent BioPharma has a 12-month low of $14.35 and a 12-month high of $36.37.

Analysts Set New Price Targets

Several research firms have recently weighed in on AVBP. The Goldman Sachs Group increased their price target on ArriVent BioPharma from $28.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. HC Wainwright reaffirmed a “buy” rating and set a $36.00 price target on shares of ArriVent BioPharma in a research report on Friday, November 15th. Oppenheimer restated an “outperform” rating and set a $39.00 target price (up from $35.00) on shares of ArriVent BioPharma in a research report on Tuesday, September 10th. Finally, Citigroup lifted their price target 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. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $36.80.

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.