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

ArriVent BioPharma, Inc. (NASDAQ:AVBP) was the recipient of a large increase in short interest in November. As of November 30th, there was short interest totalling 3,310,000 shares, an increase of 6.1% from the November 15th total of 3,120,000 shares. Based on an average trading volume of 249,100 shares, the short-interest ratio is presently 13.3 days. Approximately 17.0% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AVBP. Rhumbline Advisers raised its stake in shares of ArriVent BioPharma by 30.1% during the second quarter. Rhumbline Advisers now owns 12,707 shares of the company’s stock valued at $236,000 after acquiring an additional 2,942 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in ArriVent BioPharma during the third quarter worth about $240,000. SG Americas Securities LLC purchased a new stake in shares of ArriVent BioPharma in the 3rd quarter worth approximately $280,000. MetLife Investment Management LLC increased its holdings in shares of ArriVent BioPharma by 168.9% during the third quarter. MetLife Investment Management LLC now owns 16,350 shares of the company’s stock valued at $384,000 after acquiring an additional 10,269 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in ArriVent BioPharma by 32.6% in the third quarter. BNP Paribas Financial Markets now owns 21,965 shares of the company’s stock worth $516,000 after buying an additional 5,397 shares during the last quarter. Institutional investors own 9.48% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $36.00 price objective on shares of ArriVent BioPharma in a research report on Friday, November 15th. Citigroup upped their target price on ArriVent BioPharma from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. The Goldman Sachs Group lifted their price target on shares of ArriVent BioPharma from $28.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $39.00 price objective (up previously from $35.00) on shares of ArriVent BioPharma in a research note on Tuesday, September 10th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $36.80.

ArriVent BioPharma Stock Performance

AVBP opened at $25.80 on Monday. ArriVent BioPharma has a 1 year low of $14.35 and a 1 year high of $36.37. The stock’s 50 day simple moving average is $29.48 and its 200 day simple moving average is $24.47.

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.