ArriVent BioPharma (NASDAQ:AVBP) Sets New 1-Year Low at $15.38

ArriVent BioPharma, Inc. (NASDAQ:AVBP) shares reached 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 trading hands. The stock had previously closed at $16.04.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Citigroup started coverage on ArriVent BioPharma in a report on Tuesday, February 20th. They issued a “buy” rating and a $30.00 price objective on the stock. Jefferies Financial Group began coverage on 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 assumed 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 for the company.

ArriVent BioPharma Price Performance

The stock has a 50-day simple moving average of $19.25.

Insiders Place Their Bets

In related news, major shareholder Hillhouse Investment Managemen acquired 555,555 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were acquired at an average cost 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 in the company, valued at approximately $80,724,096. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Orbimed Advisors Llc bought 444,444 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was acquired at an average cost of $18.00 per share, for a total transaction of $7,999,992.00. Following the completion of the purchase, 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 SEC, which is available through the SEC website. Also, 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 transaction, 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.