ArriVent BioPharma (NASDAQ:AVBP) Stock Price Down 3.3%

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

Wall Street Analyst Weigh In

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

ArriVent BioPharma Stock Down 3.4 %

The company’s fifty day moving average is $19.12.

Insider Activity

In other ArriVent BioPharma news, Director Orbimed Advisors Llc acquired 444,444 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 $7,999,992.00. Following the completion of the transaction, the director now directly owns 1,513,664 shares in the company, valued at approximately $27,245,952. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Orbimed Advisors Llc acquired 444,444 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was purchased at an average cost of $18.00 per share, for a total transaction of $7,999,992.00. Following the completion of the transaction, the director now directly owns 1,513,664 shares of the company’s stock, valued at approximately $27,245,952. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Hillhouse Investment Managemen bought 555,555 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was 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. It also engages in the development and commercialization of targeted cancer therapies for non-small-cell lung cancer (NSCLC) and other solid tumors.