ArriVent BioPharma, Inc. (NASDAQ:AVBP) Short Interest Up 6.1% in November

ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) was the target of a large growth in short interest in November. As of November 30th, there was short interest totalling 3,310,000 shares, a growth of 6.1% from the November 15th total of 3,120,000 shares. Currently, 17.0% of the shares of the stock are short sold. Based on an average trading volume of 249,100 shares, the short-interest ratio is currently 13.3 days.

Hedge Funds Weigh In On ArriVent BioPharma

A number of institutional investors and hedge funds have recently bought and sold shares of AVBP. Rhumbline Advisers boosted its stake 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 in the last quarter. The Manufacturers Life Insurance Company bought a new position in ArriVent BioPharma in the 3rd quarter valued at approximately $240,000. SG Americas Securities LLC bought a new stake in ArriVent BioPharma during the 3rd quarter worth approximately $280,000. MetLife Investment Management LLC increased its position in ArriVent BioPharma by 168.9% in the 3rd quarter. MetLife Investment Management LLC now owns 16,350 shares of the company's stock valued at $384,000 after acquiring an additional 10,269 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of ArriVent BioPharma by 32.6% during the third quarter. BNP Paribas Financial Markets now owns 21,965 shares of the company's stock valued at $516,000 after acquiring an additional 5,397 shares during the last quarter. Institutional investors and hedge funds own 9.48% of the company's stock.

ArriVent BioPharma Stock Up 3.2 %

Shares of AVBP traded up $0.84 during trading hours on Friday, reaching $26.72. The stock had a trading volume of 148,278 shares, compared to its average volume of 171,669. ArriVent BioPharma has a 12 month low of $14.35 and a 12 month high of $36.37. The company's 50-day moving average is $29.48 and its two-hundred day moving average is $24.47.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Oppenheimer restated an "outperform" rating and set a $39.00 price objective (up from $35.00) on shares of ArriVent BioPharma in a research report on Tuesday, September 10th. The Goldman Sachs Group boosted their price target on ArriVent BioPharma from $28.00 to $38.00 and gave the stock a "buy" rating in a report on Tuesday, September 10th. HC Wainwright reaffirmed a "buy" rating and issued a $36.00 price objective on shares of ArriVent BioPharma in a research note on Friday, November 15th. Finally, Citigroup lifted their target price on ArriVent BioPharma from $30.00 to $36.00 and gave the company a "buy" rating in a research report on Wednesday, September 11th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $36.80.

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.