ArriVent BioPharma, Inc. (NASDAQ:AVBP) Experiences Notable Rise in Short Interest
ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) has faced a noteworthy surge in short interest for November. By November 30th, the total short interest climbed to 3,310,000 shares, marking a 6.1% rise from the 3,120,000 shares recorded on November 15th. Presently, approximately 17.0% of the company’s shares are shorted. Considering the average daily trading volume of 249,100 shares, the current short-interest ratio stands at 13.3 days.
Latest Institutional Trading Activity
Recently, several hedge funds and institutional investors have adjusted their holdings in ArriVent BioPharma. FMR LLC has increased its stake by 8.7% during the third quarter, now owning 2,119,695 shares valued at $49,813,000 after acquiring an additional 169,514 shares. Suvretta Capital Management LLC also raised its position by 7.7%, currently holding 1,845,162 shares worth $43,361,000 after picking up 132,459 more shares. Novo Holdings A S made a slight increase of 0.4% in its stake, now counting 1,505,315 shares valued at $35,375,000, acquiring 5,315 additional shares. Furthermore, Geode Capital Management LLC significantly expanded its holdings by 154.2%, amassing 597,165 shares valued at $14,036,000 after adding 362,221 shares. Similarly, State Street Corp grew its position by 210.4%, now owning 476,809 shares valued at $11,205,000 after adding 323,186 shares. Overall, about 9.48% of the company’s stock is held by institutional investors.
ArriVent BioPharma Stock Performance
On a recent trading day, shares of AVBP rose by 3.2%, increasing by $0.84 to reach $26.72. During this period, 148,278 shares changed hands, compared to the average trading volume of 171,669 shares. The stock has seen a 52-week low of $14.35 and a high of $36.37. The fifty-day moving average for the stock is currently at $29.48, while the 200-day moving average is at $24.43.
Recommendations from Analysts
Several equity analysts have recently provided insights on ArriVent BioPharma's stock. Oppenheimer reiterated an "outperform" rating and adjusted the target price to $39.00, up from $35.00. HC Wainwright maintained a "buy" rating with a price target of $36.00. Citigroup increased its target from $30.00 to $36.00, also rating it as a "buy." Additionally, The Goldman Sachs Group raised its target price to $38.00 from $28.00, once again providing a "buy" rating. Overall, five research analysts currently rate the stock as a buy, and according to MarketBeat, it maintains an average rating of "Buy" with a consensus price target of $36.80.
Company Overview
ArriVent BioPharma, Inc. operates primarily as a clinical-stage biopharmaceutical company. The firm focuses on the discovery, development, and commercialization of innovative therapies for unmet medical needs, particularly targeting cancer treatments for conditions such as non-small cell lung cancer (NSCLC) and other solid tumors.
Investment Considerations
Before making investment decisions, potential investors should exercise caution and conduct thorough research. Although ArriVent BioPharma has been rated favorably by analysts, it is essential to compare its performance with other investment options.
ArriVent, BioPharma, Investors