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

ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) saw a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 3,810,000 shares, a growth of 13.1% from the December 31st total of 3,370,000 shares. Currently, 19.5% of the company's shares are sold short. Based on an average daily trading volume, of 149,300 shares, the days-to-cover ratio is presently 25.5 days.

Analysts Set New Price Targets

Separately, HC Wainwright upped their price objective on shares of ArriVent BioPharma from $36.00 to $39.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, ArriVent BioPharma has a consensus rating of "Buy" and an average price target of $37.40.

Institutional Trading of ArriVent BioPharma

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of ArriVent BioPharma in the 3rd quarter worth $280,000. Novo Holdings A S boosted its stake in shares of ArriVent BioPharma by 0.4% in the third quarter. Novo Holdings A S now owns 1,505,315 shares of the company's stock worth $35,375,000 after buying an additional 5,315 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of ArriVent BioPharma by 153.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 202,368 shares of the company's stock worth $4,756,000 after buying an additional 122,641 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in ArriVent BioPharma during the third quarter worth approximately $240,000. Finally, FMR LLC raised its holdings in shares of ArriVent BioPharma by 8.7% during the third quarter. FMR LLC now owns 2,119,695 shares of the company's stock valued at $49,813,000 after acquiring an additional 169,514 shares during the last quarter. Institutional investors own 9.48% of the company's stock.

ArriVent BioPharma Stock Up 3.9 %

AVBP traded up $1.11 on Wednesday, hitting $29.31. 158,740 shares of the company's stock traded hands, compared to its average volume of 143,510. The company's 50 day simple moving average is $27.13 and its 200-day simple moving average is $26.61. ArriVent BioPharma has a one year low of $14.35 and a one year 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.