ArriVent BioPharma, Inc. (NASDAQ:AVBP) Short Interest Up 13.1% in January

ArriVent BioPharma, Inc. (NASDAQ:AVBP) saw a large growth in short interest in 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. Based on an average daily trading volume, of 149,300 shares, the short-interest ratio is presently 25.5 days. Currently, 19.5% of the company’s shares are short sold.

ArriVent BioPharma Trading Down 2.8 %

Shares of NASDAQ AVBP traded down $0.80 during midday trading on Monday, hitting $27.74. The company’s stock had a trading volume of 114,789 shares, compared to its average volume of 140,271. ArriVent BioPharma has a 12-month low of $14.35 and a 12-month high of $36.37. The business’s 50 day moving average is $27.14 and its two-hundred day moving average is $26.48.

Institutional Trading of ArriVent BioPharma

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of ArriVent BioPharma in the fourth quarter worth about $31,000. China Universal Asset Management Co. Ltd. bought a new position in ArriVent BioPharma in the 4th quarter worth about $190,000. New York State Common Retirement Fund grew its stake in ArriVent BioPharma by 34.6% in the 4th quarter. New York State Common Retirement Fund now owns 7,783 shares of the company’s stock worth $207,000 after acquiring an additional 2,000 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of ArriVent BioPharma during the third quarter worth approximately $240,000. Finally, SG Americas Securities LLC bought a new stake in shares of ArriVent BioPharma during the third quarter valued at approximately $280,000. Hedge funds and other institutional investors own 9.48% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.