ArriVent BioPharma, Inc. (NASDAQ:AVBP) Short Interest Update

ArriVent BioPharma, Inc. (NASDAQ:AVBP) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totalling 3,350,000 shares, an increase of 80.1% from the September 15th total of 1,860,000 shares. Based on an average daily volume of 249,500 shares, the short-interest ratio is presently 13.4 days. Currently, 17.3% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new stake in ArriVent BioPharma in the first quarter valued at approximately $83,000. Vanguard Group Inc. bought a new stake in shares of ArriVent BioPharma in the 1st quarter valued at $11,586,000. American International Group Inc. acquired a new stake in ArriVent BioPharma during the 1st quarter worth $87,000. Altitude Crest Partners Inc. bought a new position in ArriVent BioPharma during the first quarter worth about $9,922,000. Finally, Hhlr Advisors LTD. acquired a new position in ArriVent BioPharma in the first quarter valued at about $70,174,000. Institutional investors own 9.48% of the company’s stock.

ArriVent BioPharma Stock Performance

NASDAQ:AVBP opened at $28.24 on Friday. ArriVent BioPharma has a 12-month low of $14.35 and a 12-month high of $30.99. The stock’s fifty day simple moving average is $24.85 and its 200-day simple moving average is $20.63.

ArriVent BioPharma (NASDAQ:AVBP) last released its earnings results on Wednesday, August 14th. The company reported ($0.65) earnings per share for the quarter, meeting the consensus estimate of ($0.65). On average, equities analysts anticipate that ArriVent BioPharma will post -3.03 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on AVBP. The Goldman Sachs Group upped their price objective on ArriVent BioPharma from $28.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. HC Wainwright upped their price target on ArriVent BioPharma from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Citigroup lifted their price objective on ArriVent BioPharma from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, 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. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, ArriVent BioPharma presently has an average rating of “Buy” and an average price target of $36.80.

About ArriVent BioPharma

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.