Short Interest in ArriVent BioPharma, Inc. (NASDAQ:AVBP) Increases By 31.7%

ArriVent BioPharma, Inc. (NASDAQ:AVBP) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 5,360,000 shares, an increase of 31.7% from the March 31st total of 4,070,000 shares. Based on an average daily trading volume, of 203,000 shares, the short-interest ratio is currently 26.4 days. Currently, 27.6% of the company’s stock are short sold.

ArriVent BioPharma Trading Down 0.8 %

Shares of AVBP opened at $21.08 on Friday. The firm’s fifty day simple moving average is $19.91 and its 200-day simple moving average is $25.29. The firm has a market capitalization of $717.06 million, a price-to-earnings ratio of -8.20 and a beta of 1.66. ArriVent BioPharma has a twelve month low of $15.47 and a twelve month high of $36.37.

ArriVent BioPharma (NASDAQ:AVBP) last posted its quarterly earnings results on Monday, March 3rd. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.18. On average, analysts predict that ArriVent BioPharma will post -2.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on AVBP. Guggenheim initiated coverage on shares of ArriVent BioPharma in a research report on Monday, March 10th. They issued a “buy” rating and a $45.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $39.00 target price on shares of ArriVent BioPharma in a research note on Friday, March 7th. Finally, B. Riley initiated coverage on ArriVent BioPharma in a research report on Thursday, March 20th. They issued a “buy” rating and a $37.00 price target on the stock. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ArriVent BioPharma presently has an average rating of “Buy” and an average price target of $39.00.

Institutional Investors Weigh In On ArriVent BioPharma

Several institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in ArriVent BioPharma in the fourth quarter valued at approximately $31,000. JPMorgan Chase & Co. boosted its holdings in shares of ArriVent BioPharma by 183.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 12,445 shares of the company’s stock valued at $292,000 after buying an additional 8,050 shares in the last quarter. Barclays PLC grew its position in shares of ArriVent BioPharma by 1,124.8% in 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. Wellington Management Group LLP acquired a new stake in ArriVent BioPharma during the 4th quarter worth $1,117,000. Finally, Rhumbline Advisers lifted its position in ArriVent BioPharma by 9.1% in the fourth quarter. Rhumbline Advisers now owns 36,690 shares of the company’s stock valued at $977,000 after acquiring an additional 3,069 shares during the last quarter. Hedge funds and other institutional investors 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.