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

ArriVent BioPharma, Inc. (NASDAQ:AVBP) was the target of a large growth in short interest in 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. Based on an average daily volume of 149,300 shares, the short-interest ratio is presently 25.5 days. Approximately 19.5% of the company’s stock are short sold.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and set a $36.00 price target on shares of ArriVent BioPharma in a report on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ArriVent BioPharma has an average rating of “Buy” and an average target price of $36.80.

ArriVent BioPharma Stock Down 0.3 %

Shares of ArriVent BioPharma stock traded down $0.07 on Friday, reaching $24.41. 107,553 shares of the company traded hands, compared to its average volume of 132,399. The company has a 50 day moving average of $27.46 and a 200 day moving average of $25.76. ArriVent BioPharma has a 52 week low of $14.35 and a 52 week high of $36.37.

Hedge Funds Weigh In On ArriVent BioPharma

Institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers raised its stake in shares of ArriVent BioPharma by 30.1% in the second quarter. Rhumbline Advisers now owns 12,707 shares of the company’s stock valued at $236,000 after buying an additional 2,942 shares during the period. The Manufacturers Life Insurance Company bought a new stake in ArriVent BioPharma in the 3rd quarter valued at about $240,000. SG Americas Securities LLC purchased a new stake in ArriVent BioPharma during the third quarter valued at about $280,000. JPMorgan Chase & Co. boosted its position in ArriVent BioPharma by 183.2% during the third quarter. JPMorgan Chase & Co. now owns 12,445 shares of the company’s stock worth $292,000 after purchasing an additional 8,050 shares during the period. Finally, MetLife Investment Management LLC increased its stake in shares of ArriVent BioPharma by 168.9% in the third quarter. MetLife Investment Management LLC now owns 16,350 shares of the company’s stock worth $384,000 after purchasing an additional 10,269 shares in the last quarter. 9.48% of the stock is owned by institutional investors.

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.