ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) saw a large increase in short interest in December. As of December 31st, there was short interest totalling 3,810,000 shares, an increase of 13.1% from the December 15th total of 3,370,000 shares. Based on an average daily volume of 149,300 shares, the short-interest ratio is presently 25.5 days. Currently, 19.5% of the shares of the stock are short sold.
ArriVent BioPharma Trading Down 0.3 %
Shares of AVBP traded down $0.07 during trading hours on Friday, hitting $24.41. 107,553 shares of the stock were exchanged, compared to its average volume of 132,399. ArriVent BioPharma has a fifty-two week low of $14.35 and a fifty-two week high of $36.37. The business has a 50-day moving average of $27.46 and a 200-day moving average of $25.87.
Institutional Investors Weigh In On ArriVent BioPharma
Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in shares of ArriVent BioPharma by 183.2% in 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 in the last quarter. Barclays PLC increased its stake in ArriVent BioPharma by 1,124.8% in the third quarter. Barclays PLC now owns 41,522 shares of the company's stock valued at $976,000 after purchasing an additional 38,132 shares in the last quarter. Geode Capital Management LLC increased its stake in ArriVent BioPharma by 154.2% in the third quarter. Geode Capital Management LLC now owns 597,165 shares of the company's stock valued at $14,036,000 after purchasing an additional 362,221 shares in the last quarter. State Street Corp raised its holdings in shares of ArriVent BioPharma by 210.4% during the third quarter. State Street Corp now owns 476,809 shares of the company's stock valued at $11,205,000 after purchasing an additional 323,186 shares during the period. Finally, Suvretta Capital Management LLC boosted its position in shares of ArriVent BioPharma by 7.7% during the 3rd quarter. Suvretta Capital Management LLC now owns 1,845,162 shares of the company's stock worth $43,361,000 after purchasing an additional 132,459 shares in the last quarter. 9.48% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright reiterated a "buy" rating and set a $36.00 price target on shares of ArriVent BioPharma in a report on Friday, November 15th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, ArriVent BioPharma presently has an average rating of "Buy" and a consensus target price of $36.80.
View Our Latest Analysis on AVBP
About ArriVent BioPharma
(
Get Free Report)
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.
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