ArriVent BioPharma (NASDAQ:AVBP) Trading Down 3.3%

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

Analyst Upgrades and Downgrades

AVBP has been the subject of a number of research analyst reports. Jefferies Financial Group assumed coverage on shares of ArriVent BioPharma in a report on Tuesday, February 20th. They issued a “buy” rating and a $35.00 price target for the company. Citigroup began coverage on shares of ArriVent BioPharma in a research note on Tuesday, February 20th. They set a “buy” rating and a $30.00 target price for the company. Finally, The Goldman Sachs Group initiated coverage on ArriVent BioPharma in a report on Tuesday, February 20th. They issued a “buy” rating and a $27.00 price target on the stock.

ArriVent BioPharma Trading Down 2.7 %

The company has a fifty day moving average price of $19.37.

Insiders Place Their Bets

In other ArriVent BioPharma news, major shareholder Hillhouse Investment Managemen bought 555,555 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was acquired at an average price of $18.00 per share, with a total value of $9,999,990.00. Following the completion of the transaction, the insider now directly owns 4,484,672 shares in the company, valued at approximately $80,724,096. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other ArriVent BioPharma news, major shareholder Hillhouse Investment Managemen bought 555,555 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were bought at an average price of $18.00 per share, for a total transaction of $9,999,990.00. Following the acquisition, the insider now directly owns 4,484,672 shares of the company’s stock, valued at $80,724,096. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 bought at an average price of $18.00 per share, with a total value of $7,999,992.00. Following the completion of the acquisition, the director now owns 1,513,664 shares of the company’s stock, 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.