ArriVent BioPharma (NASDAQ:AVBP) Stock Price Up 6%

ArriVent BioPharma, Inc. (NASDAQ:AVBP) rose 6% on Friday . The company traded as high as $16.47 and last traded at $16.47. Approximately 4,802 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 197,528 shares. The stock had previously closed at $15.54.

Analyst Upgrades and Downgrades

AVBP has been the subject of a number of recent research reports. 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 target price for the company. Citigroup initiated coverage on ArriVent BioPharma in a research note on Tuesday, February 20th. They issued a “buy” rating and a $30.00 target price for the company. Finally, Jefferies Financial Group started coverage on ArriVent BioPharma in a research note on Tuesday, February 20th. They issued a “buy” rating and a $35.00 target price for the company.

ArriVent BioPharma Price Performance

The stock’s 50-day moving average is $18.39.

Insider Buying and Selling at ArriVent BioPharma

In other ArriVent BioPharma news, major shareholder Hillhouse Investment Managemen purchased 555,555 shares of the stock in a transaction on Tuesday, January 30th. The stock was acquired 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 of the company’s stock, valued at approximately $80,724,096. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 purchased at an average price of $18.00 per share, with a total value of $7,999,992.00. Following the transaction, the director now owns 1,513,664 shares of the company’s stock, valued at $27,245,952. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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, 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 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.