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

ArriVent BioPharma, Inc. (NASDAQ:AVBP) saw a large growth in short interest during the month of 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. Approximately 19.5% of the shares of the company are short sold. Based on an average daily trading volume, of 149,300 shares, the days-to-cover ratio is presently 25.5 days.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and set a $36.00 target price on shares of ArriVent BioPharma in a research report on Friday, November 15th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, ArriVent BioPharma currently has a consensus rating of “Buy” and a consensus target price of $36.80.

Institutional Investors Weigh In On ArriVent BioPharma

Several large investors have recently bought and sold shares of AVBP. Rhumbline Advisers increased its holdings 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 purchasing an additional 2,942 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of ArriVent BioPharma in the 3rd quarter worth $240,000. SG Americas Securities LLC purchased a new position in shares of ArriVent BioPharma during the 3rd quarter worth $280,000. JPMorgan Chase & Co. boosted its position in shares of ArriVent BioPharma by 183.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 12,445 shares of the company’s stock valued at $292,000 after acquiring an additional 8,050 shares during the last quarter. Finally, MetLife Investment Management LLC grew its holdings in shares of ArriVent BioPharma by 168.9% in the third quarter. MetLife Investment Management LLC now owns 16,350 shares of the company’s stock valued at $384,000 after purchasing an additional 10,269 shares during the period. 9.48% of the stock is currently owned by hedge funds and other institutional investors.

ArriVent BioPharma Trading Down 0.3 %

ArriVent BioPharma stock traded down $0.07 during mid-day trading on Friday, hitting $24.41. The company had a trading volume of 107,553 shares, compared to its average volume of 132,399. The company’s fifty day moving average is $27.46 and its 200-day moving average is $25.82. ArriVent BioPharma has a 12-month low of $14.35 and a 12-month high of $36.37.

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.