ArriVent BioPharma (NASDAQ:AVBP) Stock Price Up 5.2%

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) traded up 5.2% during mid-day trading on Tuesday . The company traded as high as $17.84 and last traded at $17.84. 39,767 shares were traded during trading, a decline of 82% from the average session volume of 216,821 shares. The stock had previously closed at $16.96.

Analyst Ratings Changes

Several analysts have recently commented on AVBP shares. Citigroup began coverage on ArriVent BioPharma in a report on Tuesday, February 20th. They issued a “buy” rating and a $30.00 price target for the company. Jefferies Financial Group began coverage on shares of ArriVent BioPharma in a research report on Tuesday, February 20th. They set a “buy” rating and a $35.00 target price on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of ArriVent BioPharma in a report on Tuesday, February 20th. They issued a “buy” rating and a $27.00 price target for the company.

ArriVent BioPharma Stock Down 0.8 %

The stock has a fifty day simple moving average of $20.22.

Insider Transactions at ArriVent BioPharma

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

About ArriVent BioPharma

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.