ArriVent BioPharma (NASDAQ:AVBP) Reaches New 12-Month Low at $15.38

ArriVent BioPharma, Inc. (NASDAQ:AVBP) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $15.38 and last traded at $15.46, with a volume of 11991 shares traded. The stock had previously closed at $16.04.

Wall Street Analyst Weigh In

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

ArriVent BioPharma Trading Down 4.5 %

The business has a 50 day moving average of $19.25.

Insider Transactions at ArriVent BioPharma

In other ArriVent BioPharma news, Director Orbimed Advisors Llc purchased 444,444 shares of the company’s 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 $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 $27,245,952. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Hillhouse Investment Managemen bought 555,555 shares of the firm’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 $9,999,990.00. Following the purchase, the insider now directly owns 4,484,672 shares of the company’s stock, valued at approximately $80,724,096. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Orbimed Advisors Llc purchased 444,444 shares of the 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 $7,999,992.00. Following the completion of the acquisition, the director now owns 1,513,664 shares in the company, valued at $27,245,952. 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.