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

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

Wall Street Analysts Forecast Growth

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

ArriVent BioPharma Trading Down 0.8 %

The business’s fifty day moving average is $20.22.

Insider Buying and Selling

In related news, major shareholder Hillhouse Investment Managemen purchased 555,555 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were acquired at an average price of $18.00 per share, for a total transaction of $9,999,990.00. Following the purchase, the insider now directly owns 4,484,672 shares in the company, valued at $80,724,096. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 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 bought at an average price of $18.00 per share, with a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Hillhouse Investment Managemen acquired 555,555 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was acquired at an average cost of $18.00 per share, with a total value of $9,999,990.00. Following the completion of the purchase, the insider now directly owns 4,484,672 shares in the company, 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.