Short Interest in ArriVent BioPharma, Inc. (NASDAQ:AVBP) Increases By 9.1%

ArriVent BioPharma, Inc. (NASDAQ:AVBP) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 4,320,000 shares, a growth of 9.1% from the January 15th total of 3,960,000 shares. Based on an average trading volume of 159,500 shares, the days-to-cover ratio is currently 27.1 days. Approximately 22.2% of the company’s stock are short sold.

Analyst Ratings Changes

Separately, HC Wainwright increased their target price on ArriVent BioPharma from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, ArriVent BioPharma currently has an average rating of “Buy” and a consensus price target of $37.40.

ArriVent BioPharma Price Performance

ArriVent BioPharma stock opened at $26.60 on Monday. ArriVent BioPharma has a 1-year low of $14.35 and a 1-year high of $36.37. The business has a fifty day moving average price of $26.79 and a 200-day moving average price of $26.94.

Institutional Trading of ArriVent BioPharma

Institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its stake in ArriVent BioPharma by 153.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 202,368 shares of the company’s stock worth $4,756,000 after acquiring an additional 122,641 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of ArriVent BioPharma by 154.2% during the 3rd quarter. Geode Capital Management LLC now owns 597,165 shares of the company’s stock valued at $14,036,000 after buying an additional 362,221 shares during the last quarter. Barclays PLC raised its stake in shares of ArriVent BioPharma by 1,124.8% during the 3rd quarter. Barclays PLC now owns 41,522 shares of the company’s stock valued at $976,000 after buying an additional 38,132 shares during the last quarter. State Street Corp raised its stake in shares of ArriVent BioPharma by 210.4% during the 3rd quarter. State Street Corp now owns 476,809 shares of the company’s stock valued at $11,205,000 after buying an additional 323,186 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of ArriVent BioPharma by 183.2% during 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 during the period. Institutional investors and hedge funds own 9.48% of the company’s stock.

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.