Short Interest in ArriVent BioPharma, Inc. (NASDAQ:AVBP) Decreases By 11.9%

ArriVent BioPharma, Inc. (NASDAQ:AVBPGet Free Report) was the recipient of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 3,120,000 shares, a decrease of 11.9% from the October 31st total of 3,540,000 shares. Based on an average daily volume of 275,700 shares, the short-interest ratio is currently 11.3 days. Approximately 16.1% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Stock Analysis on ArriVent BioPharma

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AVBP. American International Group Inc. acquired a new stake in ArriVent BioPharma during the first quarter worth about $87,000. Rhumbline Advisers grew its holdings 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 purchasing an additional 2,942 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of ArriVent BioPharma during the 3rd quarter worth approximately $240,000. SG Americas Securities LLC acquired a new stake in shares of ArriVent BioPharma during the 3rd quarter worth approximately $280,000. Finally, MetLife Investment Management LLC lifted its holdings in shares of 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 last quarter. 9.48% of the stock is currently owned by institutional investors.

ArriVent BioPharma Stock Up 2.9 %

ArriVent BioPharma stock opened at $29.96 on Friday. ArriVent BioPharma has a 12 month low of $14.35 and a 12 month high of $36.37. The company has a fifty day moving average price of $28.63 and a two-hundred day moving average price of $23.78.

ArriVent BioPharma Company Profile

(Get Free Report)

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.

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