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

ArriVent BioPharma, Inc. (NASDAQ:AVBP) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 3,810,000 shares, an increase of 13.1% from the December 15th total of 3,370,000 shares. Based on an average daily trading volume, of 149,300 shares, the short-interest ratio is presently 25.5 days. Approximately 19.5% of the shares of the stock are short sold.

Institutional Investors Weigh In On ArriVent BioPharma

A number of institutional investors have recently made changes to their positions in AVBP. The Manufacturers Life Insurance Company purchased a new stake in ArriVent BioPharma during the 3rd quarter valued at $240,000. SG Americas Securities LLC bought a new position in shares of ArriVent BioPharma during the 3rd quarter valued at approximately $280,000. JPMorgan Chase & Co. increased its stake in shares of ArriVent BioPharma by 183.2% in 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 in the last quarter. Rhumbline Advisers lifted its position 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 acquiring an additional 2,942 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its stake in ArriVent BioPharma by 168.9% in the 3rd 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 during the period. Hedge funds and other institutional investors own 9.48% of the company’s stock.

Wall Street Analysts Forecast Growth

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

ArriVent BioPharma Stock Performance

ArriVent BioPharma stock traded down $0.07 during mid-day trading on Friday, reaching $24.41. The stock had a trading volume of 107,553 shares, compared to its average volume of 132,399. ArriVent BioPharma has a one year low of $14.35 and a one year high of $36.37. The company has a 50-day moving average price of $27.46 and a two-hundred day moving average price of $25.76.

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.