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

ArriVent BioPharma, Inc. (NASDAQ:AVBP) was the target of a significant increase in short interest in 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. Currently, 17.0% of the company’s stock are short sold. Based on an average trading volume of 249,100 shares, the days-to-cover ratio is currently 13.3 days.

ArriVent BioPharma Trading Up 3.2 %

AVBP stock traded up $0.84 during trading on Friday, reaching $26.72. The stock had a trading volume of 148,278 shares, compared to its average volume of 171,669. ArriVent BioPharma has a one year low of $14.35 and a one year high of $36.37. The company’s 50 day moving average is $29.48 and its two-hundred day moving average is $24.43.

Institutional Trading of ArriVent BioPharma

A number of institutional investors and hedge funds have recently modified their holdings of AVBP. FMR LLC boosted its position in ArriVent BioPharma by 8.7% in the third quarter. FMR LLC now owns 2,119,695 shares of the company’s stock worth $49,813,000 after purchasing an additional 169,514 shares during the last quarter. Suvretta Capital Management LLC boosted its holdings in shares of ArriVent BioPharma by 7.7% in the 3rd quarter. Suvretta Capital Management LLC now owns 1,845,162 shares of the company’s stock worth $43,361,000 after buying an additional 132,459 shares during the last quarter. Novo Holdings A S grew its position in ArriVent BioPharma by 0.4% during the third quarter. Novo Holdings A S now owns 1,505,315 shares of the company’s stock valued at $35,375,000 after buying an additional 5,315 shares during the period. Geode Capital Management LLC increased 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 buying an additional 362,221 shares during the last quarter. Finally, State Street Corp raised its position in ArriVent BioPharma by 210.4% in the third quarter. State Street Corp now owns 476,809 shares of the company’s stock worth $11,205,000 after acquiring an additional 323,186 shares during the period. 9.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AVBP has been the topic of several research reports. Citigroup upped their price objective on shares of ArriVent BioPharma from $30.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. The Goldman Sachs Group upped their price target on ArriVent BioPharma from $28.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Oppenheimer reissued an “outperform” rating and issued a $39.00 price objective (up previously from $35.00) on shares of ArriVent BioPharma in a research note on Tuesday, September 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $36.00 target price on shares of ArriVent BioPharma in a research report on Friday, November 15th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price 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.