Short Interest in ArriVent BioPharma, Inc. (NASDAQ:AVBP) Grows By 13.1%

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 trading volume of 149,300 shares, the short-interest ratio is currently 25.5 days. Currently, 19.5% of the shares of the stock are short sold.

Institutional Trading of ArriVent BioPharma

Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its stake in shares of ArriVent BioPharma by 183.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 12,445 shares of the company’s stock valued at $292,000 after purchasing an additional 8,050 shares during the period. Barclays PLC lifted its stake in ArriVent BioPharma by 1,124.8% in the third quarter. Barclays PLC now owns 41,522 shares of the company’s stock valued at $976,000 after buying an additional 38,132 shares during the period. Geode Capital Management LLC boosted its holdings in shares of ArriVent BioPharma by 154.2% during the 3rd 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 in the last quarter. State Street Corp boosted its holdings in shares of ArriVent BioPharma by 210.4% during the 3rd 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. Finally, Suvretta Capital Management LLC increased its stake 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 valued at $43,361,000 after acquiring an additional 132,459 shares in the last quarter. Institutional investors own 9.48% of the company’s stock.

ArriVent BioPharma Trading Down 0.3 %

NASDAQ:AVBP opened at $24.41 on Monday. The firm’s 50 day simple moving average is $27.46 and its 200 day simple moving average is $25.87. ArriVent BioPharma has a one year low of $14.35 and a one year high of $36.37.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued 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, ArriVent BioPharma currently has a consensus rating of “Buy” and a consensus price target 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.