ArriVent BioPharma, Inc. Sees Notable Increase in Short Interest

ArriVent BioPharma, Inc. (NASDAQ:AVBP) experienced a substantial rise in short interest during November. As of November 30th, the total short interest reached 3,310,000 shares, marking a 6.1% increase from the previous total of 3,120,000 shares reported on November 15th. Currently, about 17.0% of the company’s shares are sold short. Given an average daily trading volume of 249,100 shares, the short-interest ratio stands at approximately 13.3 days.

Institutional Investments in ArriVent BioPharma

Recently, various institutional investors have adjusted their positions in ArriVent BioPharma. For example, FMR LLC increased its holding in the company by 8.7% during the third quarter, bringing its total to 2,119,695 shares, valued at around $49,813,000. Another firm, Suvretta Capital Management LLC, raised its stake by 7.7%, now owning 1,845,162 shares worth approximately $43,361,000. Additionally, Novo Holdings A/S expanded its investment by 0.4%, holding 1,505,315 shares valued at about $35,375,000.

Geode Capital Management LLC saw a remarkable increase of 154.2% in its holdings, resulting in ownership of 597,165 shares valued at $14,036,000 after acquiring an extra 362,221 shares. State Street Corp also boosted its stake by 210.4%, acquiring 476,809 shares worth an estimated $11,205,000. Currently, institutional investors collectively hold about 9.48% of ArriVent BioPharma's stock.

Recent Trading Activity of ArriVent BioPharma

On a recent trading day, AVBP stock rose by 3.2%, reaching a price of $26.72. A total of 148,278 shares changed hands, lower than its average daily volume of 171,669 shares. Over the past year, the stock has fluctuated between a low of $14.35 and a high of $36.37. The company's fifty-day moving average price is around $29.48, while the 200-day moving average stands at $24.43.

Analyst Ratings and Insights

Several equity analysts have also provided updates on ArriVent BioPharma. Oppenheimer reaffirmed an “outperform” rating and raised the target price from $35.00 to $39.00, reflecting confidence in the company's potential. HC Wainwright maintained a “buy” rating, setting a target price at $36.00 in a recent report. Citigroup increased its target for the stock from $30.00 to $36.00 and gave it a “buy” rating, and Goldman Sachs also raised the target price from $28.00 to $38.00 while classifying it as a “buy.” Currently, five analysts recommended the stock as a buy, and it holds an average rating of “Buy” with a consensus price target of $36.80.

Overview of ArriVent BioPharma

ArriVent BioPharma, Inc. operates as a clinical-stage biopharmaceutical company focused on identifying, developing, and commercializing medicines for unmet medical needs, particularly in cancer treatment in the United States. The company also specializes in developing and marketing targeted therapies for non-small cell lung cancer and other solid tumors.

ArriVent, Finance, Stocks