ArriVent BioPharma, Inc. (NASDAQ:AVBP) Short Interest Update

ArriVent BioPharma, Inc. (NASDAQ:AVBP) saw a large growth in short interest in September. As of September 30th, there was short interest totalling 3,350,000 shares, a growth of 80.1% from the September 15th total of 1,860,000 shares. Approximately 17.3% of the company’s stock are short sold. Based on an average daily volume of 249,500 shares, the short-interest ratio is currently 13.4 days.

Analyst Upgrades and Downgrades

AVBP has been the subject of a number of analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $39.00 target price (up from $35.00) on shares of ArriVent BioPharma in a research note on Tuesday, September 10th. HC Wainwright upped their price objective on shares of ArriVent BioPharma from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. The Goldman Sachs Group raised their target price on ArriVent BioPharma from $28.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, Citigroup upped their price target on ArriVent BioPharma from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. 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 a consensus price target of $36.80.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new stake in shares of ArriVent BioPharma in the 1st quarter valued at approximately $83,000. American International Group Inc. acquired a new stake in shares of ArriVent BioPharma during the first quarter worth approximately $87,000. SG Americas Securities LLC bought a new position in shares of ArriVent BioPharma in the third quarter valued at approximately $280,000. Rhumbline Advisers boosted its holdings in shares of ArriVent BioPharma by 30.1% in the 2nd quarter. Rhumbline Advisers now owns 12,707 shares of the company’s stock worth $236,000 after acquiring an additional 2,942 shares in the last quarter. Finally, Blackstone Inc. bought a new stake in ArriVent BioPharma during the 1st quarter worth approximately $446,000. 9.48% of the stock is owned by institutional investors.

ArriVent BioPharma Price Performance

NASDAQ AVBP opened at $28.24 on Friday. The stock has a 50-day simple moving average of $24.85 and a 200 day simple moving average of $20.63. ArriVent BioPharma has a twelve month low of $14.35 and a twelve month high of $30.99.

ArriVent BioPharma (NASDAQ:AVBP) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.65) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.65). As a group, analysts predict that ArriVent BioPharma will post -3.03 earnings per share for the current fiscal year.

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.