ArriVent BioPharma, Inc. (NASDAQ:AVBP) Short Interest Up 13.1% in December

ArriVent BioPharma, Inc. (NASDAQ:AVBP) saw a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 3,810,000 shares, a growth of 13.1% from the December 15th total of 3,370,000 shares. Currently, 19.5% of the company’s shares are sold short. Based on an average daily trading volume, of 149,300 shares, the days-to-cover ratio is presently 25.5 days.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $36.00 price objective on shares of ArriVent BioPharma in a research note on Friday, November 15th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $36.80.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Novo Holdings A S increased its holdings in ArriVent BioPharma by 39.3% in the second quarter. Novo Holdings A S now owns 1,500,000 shares of the company’s stock valued at $27,825,000 after buying an additional 422,860 shares in the last quarter. Geode Capital Management LLC raised its holdings in ArriVent BioPharma by 154.2% during the third quarter. Geode Capital Management LLC now owns 597,165 shares of the company’s stock worth $14,036,000 after purchasing an additional 362,221 shares during the last quarter. State Street Corp boosted its position in ArriVent BioPharma by 210.4% during the third quarter. State Street Corp now owns 476,809 shares of the company’s stock worth $11,205,000 after purchasing an additional 323,186 shares in the last quarter. FMR LLC grew its holdings in 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 purchasing an additional 169,514 shares during the last quarter. Finally, Suvretta Capital Management LLC increased its position in shares of ArriVent BioPharma by 7.7% in the third quarter. Suvretta Capital Management LLC now owns 1,845,162 shares of the company’s stock valued at $43,361,000 after buying an additional 132,459 shares in the last quarter. 9.48% of the stock is currently owned by institutional investors and hedge funds.

ArriVent BioPharma Stock Down 0.3 %

AVBP stock traded down $0.07 on Friday, hitting $24.41. The company’s stock had a trading volume of 107,553 shares, compared to its average volume of 132,399. The firm has a 50 day moving average of $27.46 and a two-hundred day moving average of $25.82. ArriVent BioPharma has a 1 year low of $14.35 and a 1 year high of $36.37.

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.