ArriVent BioPharma, Inc. Sees Notable Rise in Short Interest

ArriVent BioPharma, Inc. (NASDAQ:AVBP) recently experienced a notable surge in short interest during the month of November. As of November 30th, the short interest stood at 3,310,000 shares, marking a 6.1% increase from the 3,120,000 shares reported on November 15th. This indicates that about 17.0% of the company's shares are currently sold short. Given an average daily trading volume of 249,100 shares, the current short-interest ratio is approximately 13.3 days.

Changes in Institutional Investments

Recent activity among institutional investors shows a trend of increasing stakes in ArriVent BioPharma. For instance, FMR LLC raised its investment in the company by 8.7% during the third quarter, now owning 2,119,695 shares valued at around $49,813,000 after acquiring an additional 169,514 shares in this timeframe. Similarly, Suvretta Capital Management LLC upped its stake by 7.7%, currently holding 1,845,162 shares valued at $43,361,000 after adding 132,459 shares. Novo Holdings A S also increased its position by 0.4%, owning 1,505,315 shares worth $35,375,000 following the purchase of 5,315 shares. Geode Capital Management LLC saw a substantial lift in its investment by 154.2%, now possessing 597,165 shares valued at $14,036,000 after obtaining an additional 362,221 shares. Lastly, State Street Corp’s stake grew by 210.4%, owning 476,809 shares valued at $11,205,000 after purchasing 323,186 shares in the last quarter. Currently, institutional investors own 9.48% of the stock.

Current Trading Status of ArriVent BioPharma

On the trading front, ArriVent BioPharma's shares rose by 3.2%, with the stock trading at $26.72 during midday exchanges on Friday. The total shares traded reached 148,278, which is quite close to the average volume of 171,669 shares. Over the past year, the stock has seen a low of $14.35 and a high of $36.37, with a 50-day moving average of $29.48 and a 200-day moving average of $24.43.

Analysts' Perspectives

Several analysts have recently reviewed ArriVent BioPharma’s stock. Oppenheimer reaffirmed an "outperform" rating with a target price upgrade to $39.00 from $35.00 in a research report published on September 10th. HC Wainwright maintained a "buy" rating, setting a price target of $36.00 in a report on November 15th. Citigroup increased their target price from $30.00 to $36.00 while assigning a "buy" rating in their publication on September 11th. Lastly, The Goldman Sachs Group lifted its target price from $28.00 to $38.00 and also rated the stock as a "buy." According to MarketBeat, five analysts currently recommend buying the stock, and the consensus rating is categorized as a "Buy" with an average price target of $36.80.

Company Overview of ArriVent BioPharma

ArriVent BioPharma operates as a clinical-stage biopharmaceutical firm focused on the identification, development, and commercialization of innovative treatments to meet the medical needs of patients with cancers in the United States. Their work includes developing targeted therapies primarily aimed at treating non-small cell lung cancer (NSCLC) along with other solid tumors.

ArriVent, BioPharma, Stocks