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

ArriVent BioPharma, Inc. (NASDAQ:AVBP) experienced a notable rise in short interest throughout November. As of November 30, the total number of shares sold short reached 3,310,000, reflecting a 6.1% increase from the previous total of 3,120,000 shares recorded on November 15. Presently, about 17.0% of the company’s shares are being shorted. With an average daily trading volume of 249,100 shares, the short-interest ratio is calculated at 13.3 days.

Recent Institutional Trading Activity

Recent changes by hedge funds and institutional investors have had a significant impact on ArriVent BioPharma. In the third quarter, FMR LLC increased its holdings in the company by 8.7%, acquiring an additional 169,514 shares, bringing its total ownership to 2,119,695 shares valued at around $49,813,000. Similarly, Suvretta Capital Management LLC enhanced its position by 7.7%, now holding 1,845,162 shares worth approximately $43,361,000 after purchasing 132,459 extra shares.

Furthermore, Novo Holdings A S raised its stake by 0.4%, owning 1,505,315 shares valued at $35,375,000 after buying 5,315 shares. Geode Capital Management LLC showed a substantial increase of 154.2% in its holdings with an acquisition of 362,221 shares, totaling 597,165 shares worth $14,036,000. Lastly, State Street Corp expanded its position significantly by 210.4%, acquiring 323,186 shares and reaching a total of 476,809 shares valued at $11,205,000. Overall, 9.48% of ArriVent BioPharma’s stock is presently held by institutional investors.

Stock Performance Overview

In midday trading on the most recent Friday, AVBP stock rose by 3.2%, increasing by $0.84 to reach $26.72. A total of 148,278 shares changed hands, surpassing the average trading volume of 171,669 shares. ArriVent BioPharma's stock has fluctuated between a 52-week low of $14.35 and a high of $36.37. Currently, the company’s fifty-day moving average stands at $29.48, while the 200-day moving average is $24.43.

Analysts' Opinions on ArriVent BioPharma

Equity analysts have recently shared their views on ArriVent BioPharma. Oppenheimer maintained an “outperform” rating and raised its target price from $35.00 to $39.00 in a report released on September 10. HC Wainwright also reiterated a “buy” rating, setting their price objective at $36.00 on November 15. Citigroup increased its target price from $30.00 to $36.00, continuing to endorse the stock with a “buy” rating in a report dated September 11. The Goldman Sachs Group also raised its target price from $28.00 to $38.00 while maintaining a “buy” rating on September 10. According to MarketBeat, five researchers have rated the stock as a buy, giving it an overall average rating of “Buy” with a consensus price target of $36.80.

About ArriVent BioPharma

ArriVent BioPharma, Inc. operates as a clinical-stage biopharmaceutical firm dedicated to identifying, developing, and marketing treatments for unmet medical needs of cancer patients in the United States. The company focuses primarily on developing targeted therapies for non-small cell lung cancer (NSCLC) and other types of solid tumors.

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