ArriVent BioPharma (NASDAQ:AVBP) Shares Up 4.9%

ArriVent BioPharma, Inc. (NASDAQ:AVBP)’s stock price shot up 4.9% during mid-day trading on Friday . The company traded as high as $16.26 and last traded at $16.26. 5,924 shares changed hands during trading, a decline of 97% from the average session volume of 207,111 shares. The stock had previously closed at $15.50.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. The Goldman Sachs Group assumed coverage on ArriVent BioPharma in a research note on Tuesday, February 20th. They issued a “buy” rating and a $27.00 target price on the stock. Citigroup assumed coverage on ArriVent BioPharma in a research note on Tuesday, February 20th. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Jefferies Financial Group assumed coverage on ArriVent BioPharma in a research note on Tuesday, February 20th. They issued a “buy” rating and a $35.00 target price on the stock.

ArriVent BioPharma Price Performance

The firm’s 50 day moving average is $19.12.

Insider Activity at ArriVent BioPharma

In other ArriVent BioPharma news, Director Orbimed Advisors Llc purchased 444,444 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were purchased at an average cost of $18.00 per share, for a total transaction of $7,999,992.00. Following the completion of the purchase, the director now directly owns 1,513,664 shares in the company, valued at $27,245,952. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other ArriVent BioPharma news, Director Orbimed Advisors Llc purchased 444,444 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were purchased at an average cost of $18.00 per share, for a total transaction of $7,999,992.00. Following the completion of the purchase, the director now directly owns 1,513,664 shares in the company, valued at $27,245,952. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Hillhouse Investment Managemen purchased 555,555 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was acquired at an average price of $18.00 per share, for a total transaction of $9,999,990.00. Following the completion of the purchase, the insider now owns 4,484,672 shares of the company’s stock, valued at $80,724,096. The disclosure for this purchase can be found here.

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. It also engages in the development and commercialization of targeted cancer therapies for non-small-cell lung cancer (NSCLC) and other solid tumors.