ArriVent BioPharma, Inc. Experiences Notable Increase in Short Interest

ArriVent BioPharma, Inc. (NASDAQ:AVBP) has recorded a notable rise in short interest during the month of November. By November 30th, the total short interest reached 3,310,000 shares, reflecting a 6.1% increase from the 3,120,000 shares noted on November 15th. Currently, about 17.0% of the company’s shares are sold short. Based on the average daily trading volume of 249,100 shares, the short-interest ratio stands at 13.3 days.

In a related note, institutional trading around ArriVent BioPharma has been active recently. Several hedge funds and institutional investors have adjusted their stakes in the company. For instance, FMR LLC increased its position by 8.7% in the third quarter, acquiring 169,514 additional shares, thus owning a total of 2,119,695 shares worth approximately $49,813,000. Similarly, Suvretta Capital Management LLC raised its ownership by 7.7% during the same period, now holding 1,845,162 shares valued at about $43,361,000 after purchasing 132,459 shares more.

Furthermore, Novo Holdings A S raised its stake slightly by 0.4% to own 1,505,315 shares, valued at $35,375,000 post-acquisition of another 5,315 shares. Geode Capital Management LLC significantly boosted its holdings by 154.2%, adding 362,221 shares to its position, thus owning 597,165 shares worth $14,036,000. Lastly, State Street Corp expanded its stake dramatically by 210.4%, now holding 476,809 shares valued at $11,205,000 after increasing its position by 323,186 shares.

Currently, institutional investors own 9.48% of the total shares in ArriVent BioPharma.

ArriVent BioPharma Stock Performance

Recently, ArriVent BioPharma shares traded higher by 3.2%. During midday trading on one recent Friday, the stock price reached $26.72, with 148,278 shares traded compared to an average volume of 171,669 shares. The stock's price has seen fluctuations, with a 52-week low of $14.35 and a high of $36.37. The fifty-day moving average price sits at $29.48, while the 200-day moving average price is currently $24.43.

Analyst Perspectives on ArriVent BioPharma

Several equity analysts have shared their insights regarding ArriVent BioPharma stock. Oppenheimer maintained an "outperform" rating and revised its target price to $39.00 from $35.00 in a report issued on September 10th. HC Wainwright reiterated a "buy" rating with a target price of $36.00 on November 15th. Citigroup increased its target price from $30.00 to $36.00, also labeling the stock as a "buy" on September 11th. Furthermore, Goldman Sachs Group adjusted its price target from $28.00 to $38.00, maintaining a "buy" recommendation on the same date. A total of five research analysts classify the stock with a "buy" rating, and according to MarketBeat, the average rating currently stands at "Buy" with a consensus target price of $36.80.

About ArriVent BioPharma

ArriVent BioPharma, Inc. operates as a clinical-stage biopharmaceutical company dedicated to identifying, developing, and commercializing treatments that address unmet medical needs for cancer patients in the United States. The focus of the company includes developing targeted cancer therapies aimed at non-small cell lung cancer (NSCLC) and other types of solid tumors.

Considerations for Investors

Potential investors in ArriVent BioPharma might find it beneficial to research the current dynamics surrounding the stock. Although analysts maintain a favorable outlook on the stock with a "Buy" rating, some top-rated analysts have pinpointed alternative stocks that might present better opportunities in the current market landscape.

ArriVent, BioPharma, Stocks