ArriVent BioPharma (NASDAQ:AVBP) Sets New 1-Year Low at $14.35

ArriVent BioPharma, Inc. (NASDAQ:AVBP) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $14.35 and last traded at $15.33, with a volume of 8994 shares trading hands. The stock had previously closed at $15.30.

Analyst Ratings Changes

Several research analysts have commented on the stock. The Goldman Sachs Group assumed coverage on shares of ArriVent BioPharma in a research report on Tuesday, February 20th. They set a “buy” rating and a $27.00 price objective for the company. Jefferies Financial Group started 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, Citigroup started 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 on the stock.

ArriVent BioPharma Stock Performance

The firm has a 50 day simple moving average of $18.66.

Insiders Place Their Bets

In other ArriVent BioPharma news, major shareholder Hillhouse Investment Managemen acquired 555,555 shares of ArriVent BioPharma 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 $9,999,990.00. Following the completion of the purchase, the insider now directly owns 4,484,672 shares in the company, valued at approximately $80,724,096. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Orbimed Advisors Llc purchased 444,444 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were acquired 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 purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Hillhouse Investment Managemen purchased 555,555 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were purchased at an average cost of $18.00 per share, for a total transaction of $9,999,990.00. Following the transaction, the insider now directly owns 4,484,672 shares of the company’s stock, valued at approximately $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 in the United States. It also engages in the development and commercialization of targeted cancer therapies for non-small cell lung cancer (NSCLC) and other solid tumors.