ArriVent BioPharma, Inc. (NASDAQ:AVBP) Short Interest Up 9.1% in January

ArriVent BioPharma, Inc. (NASDAQ:AVBP) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 4,320,000 shares, an increase of 9.1% from the January 15th total of 3,960,000 shares. Approximately 22.2% of the shares of the company are short sold. Based on an average trading volume of 159,500 shares, the days-to-cover ratio is presently 27.1 days.

ArriVent BioPharma Trading Down 0.9 %

ArriVent BioPharma stock traded down $0.25 during mid-day trading on Friday, hitting $26.60. The company had a trading volume of 115,937 shares, compared to its average volume of 144,887. ArriVent BioPharma has a 12-month low of $14.35 and a 12-month high of $36.37. The company’s fifty day moving average is $26.79 and its 200-day moving average is $26.90.

Institutional Investors Weigh In On ArriVent BioPharma

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in ArriVent BioPharma by 154.2% in the 3rd 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 period. State Street Corp lifted 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 buying an additional 323,186 shares in the last quarter. FMR LLC increased its holdings in shares of ArriVent BioPharma by 8.7% during the 3rd quarter. FMR LLC now owns 2,119,695 shares of the company’s stock worth $49,813,000 after buying an additional 169,514 shares during the last quarter. Suvretta Capital Management LLC increased its holdings in shares of ArriVent BioPharma by 7.7% during 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. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of ArriVent BioPharma by 153.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 202,368 shares of the company’s stock worth $4,756,000 after buying an additional 122,641 shares during the last quarter. Hedge funds and other institutional investors own 9.48% of the company’s stock.

Analyst Ratings Changes

Separately, HC Wainwright lifted their price target on ArriVent BioPharma from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $37.40.

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.