ArriVent BioPharma, Inc. (NASDAQ:AVBP) Sees Significant Growth in Short Interest

ArriVent BioPharma, Inc. (NASDAQ:AVBP) experienced a notable increase in short interest for the month of November. By November 30th, the total short interest reached 3,310,000 shares. This marked an increase of 6.1% compared to the short interest of 3,120,000 shares recorded on November 15th. Currently, approximately 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 13.3 days.

Institutional Trading of ArriVent BioPharma

Recently, several hedge funds and institutional investors have adjusted their positions in ArriVent BioPharma. FMR LLC raised its stake by 8.7% during the third quarter, now holding 2,119,695 shares valued at $49,813,000 after acquiring an additional 169,514 shares. Suvretta Capital Management LLC also increased its holding by 7.7% during the same period, owning 1,845,162 shares valued at $43,361,000 after buying 132,459 shares. Additionally, Novo Holdings A S raised its stake marginally by 0.4%, now owning 1,505,315 shares worth $35,375,000 after adding 5,315 shares. Geode Capital Management LLC significantly boosted its holdings by 154.2%, with a total of 597,165 shares now valued at $14,036,000 after purchasing another 362,221 shares. State Street Corp saw the largest increase, growing its stake by 210.4% and now holding 476,809 shares valued at $11,205,000 after an additional purchase of 323,186 shares. Institutional investors collectively own 9.48% of the company's stock.

ArriVent BioPharma Stock Performance

During midday trading on Friday, AVBP stock increased by 3.2%, reaching $26.72, with a total of 148,278 shares exchanged this session, compared to its average volume of 171,669 shares. Over the past year, the stock has fluctuated, achieving a 52-week low of $14.35 and a high of $36.37. The stock’s fifty-day moving average price is $29.48, while its 200-day moving average price stands at $24.43.

Analyst Ratings and Projections

Several analysts have recently commented positively on ArriVent BioPharma. Oppenheimer reaffirmed an "outperform" rating with a price target increased to $39.00 from $35.00 in their report on September 10th. HC Wainwright also maintained a "buy" rating, setting a price objective of $36.00 on November 15th. Citigroup raised its target from $30.00 to $36.00, giving the stock a "buy" rating on September 11th. The Goldman Sachs Group updated their target price to $38.00 from $28.00 on September 10th, also issuing a "buy" rating. Currently, five analysts have rated ArriVent BioPharma as a buy; according to MarketBeat, the company has an average rating of "Buy" with a consensus price target of $36.80.

Company Overview

ArriVent BioPharma, Inc. operates as a clinical-stage biopharmaceutical company focused on creating and advancing treatments for unmet medical needs in oncology. The firm specializes in the development and commercialization of targeted therapies for non-small cell lung cancer (NSCLC) and other solid tumors, striving to address critical healthcare challenges.

Considerations for Investors

As with any stock, potential investors should conduct comprehensive research before making any investment decisions regarding ArriVent BioPharma. Understanding market trends and analyst ratings can provide valuable insights.

ArriVent, BioPharma, Stocks