Short Interest in ArriVent BioPharma, Inc. (NASDAQ:AVBP) Increases By 9.1%

ArriVent BioPharma, Inc. (NASDAQ:AVBP) was the target of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 4,320,000 shares, an increase of 9.1% from the January 15th total of 3,960,000 shares. Approximately 22.2% of the shares of the stock are short sold. Based on an average daily volume of 159,500 shares, the short-interest ratio is presently 27.1 days.

Institutional Trading of ArriVent BioPharma

Several institutional investors have recently made changes to their positions in the company. Bank of America Corp DE raised its position in shares of ArriVent BioPharma by 5.3% during the 4th quarter. Bank of America Corp DE now owns 45,544 shares of the company’s stock valued at $1,213,000 after buying an additional 2,279 shares during the period. Novo Holdings A S raised its position in ArriVent BioPharma by 1.0% in the fourth quarter. Novo Holdings A S now owns 1,520,627 shares of the company’s stock valued at $40,510,000 after purchasing an additional 15,312 shares during the period. Northern Trust Corp raised its position in ArriVent BioPharma by 4.6% in the fourth quarter. Northern Trust Corp now owns 241,009 shares of the company’s stock valued at $6,420,000 after purchasing an additional 10,498 shares during the period. Virtus ETF Advisers LLC purchased a new stake in ArriVent BioPharma in the fourth quarter valued at approximately $73,000. Finally, Voya Investment Management LLC purchased a new stake in ArriVent BioPharma in the fourth quarter valued at approximately $223,000. Hedge funds and other institutional investors own 9.48% of the company’s stock.

ArriVent BioPharma Stock Down 0.9 %

AVBP stock opened at $26.60 on Monday. The firm’s 50 day moving average price is $26.79 and its 200-day moving average price is $26.94. 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 boosted their target price on ArriVent BioPharma from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $37.40.

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.