ArriVent BioPharma (NASDAQ:AVBP) Hits New 52-Week Low at $15.38

ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $15.38 and last traded at $15.46, with a volume of 11991 shares changing hands. The stock had previously closed at $16.04.

Analyst Ratings Changes

A number of brokerages have issued reports on AVBP. Citigroup began coverage on ArriVent BioPharma in a report on Tuesday, February 20th. They set a "buy" rating and a $30.00 price objective for the company. Jefferies Financial Group initiated 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. 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 target price for the company.

ArriVent BioPharma Stock Down 3.4 %

The business has a 50-day moving average price of $19.12.

Insider Buying and Selling

In related news, Director Orbimed Advisors Llc bought 444,444 shares of ArriVent BioPharma stock in a transaction on Tuesday, January 30th. The shares were purchased at an average price of $18.00 per share, for a total transaction of $7,999,992.00. Following the completion of the acquisition, the director now owns 1,513,664 shares in the company, valued at $27,245,952. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, major shareholder Hillhouse Investment Managemen bought 555,555 shares of the business's stock in a transaction on Tuesday, January 30th. The shares were purchased at an average price of $18.00 per share, for a total transaction of $9,999,990.00. Following the purchase, the insider now 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 SEC, which is available through the SEC website. Also, Director Orbimed Advisors Llc purchased 444,444 shares of the stock in a transaction on Tuesday, January 30th. The shares were bought at an average cost of $18.00 per share, for a total transaction of $7,999,992.00. Following the transaction, the director now directly owns 1,513,664 shares in the company, valued at $27,245,952. 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.