ArriVent BioPharma (NASDAQ:AVBP) Stock Price Down 3.3%

ArriVent BioPharma, Inc. (NASDAQ:AVBP) shares fell 3.3% during trading on Wednesday . The stock traded as low as $16.04 and last traded at $16.25. 30,546 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 200,150 shares. The stock had previously closed at $16.80.

Analysts Set New Price Targets

A number of brokerages have commented on AVBP. The Goldman Sachs Group started coverage on ArriVent BioPharma in a research note on Tuesday, February 20th. They issued a “buy” rating and a $27.00 price target on the stock. Citigroup began coverage on shares of ArriVent BioPharma in a research report on Tuesday, February 20th. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, Jefferies Financial Group started coverage on ArriVent BioPharma in a research report on Tuesday, February 20th. They issued a “buy” rating and a $35.00 price objective on the stock.

ArriVent BioPharma Trading Down 3.4 %

The business has a fifty day moving average of $19.12.

Insider Activity at ArriVent BioPharma

In other ArriVent BioPharma news, major shareholder Hillhouse Investment Managemen bought 555,555 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was bought at an average cost of $18.00 per share, for a total transaction of $9,999,990.00. Following the completion of the transaction, the insider now owns 4,484,672 shares of the company’s stock, valued at approximately $80,724,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Hillhouse Investment Managemen acquired 555,555 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was bought at an average cost of $18.00 per share, for a total transaction of $9,999,990.00. Following the purchase, the insider now owns 4,484,672 shares in the company, valued at approximately $80,724,096. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Orbimed Advisors Llc bought 444,444 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were purchased at an average price of $18.00 per share, for a total transaction of $7,999,992.00. Following the purchase, the director now owns 1,513,664 shares in the company, valued at approximately $27,245,952. 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.