ArriVent BioPharma (NASDAQ:AVBP) Trading 3.1% Higher

ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report) rose 3.1% on Thursday . The company traded as high as $17.88 and last traded at $17.83. Approximately 27,638 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 201,263 shares. The stock had previously closed at $17.29.

Analyst Upgrades and Downgrades

AVBP has been the subject of a number of analyst reports. The Goldman Sachs Group initiated coverage on ArriVent BioPharma in a report on Tuesday, February 20th. They issued a "buy" rating and a $27.00 price target for the company. Citigroup assumed coverage on ArriVent BioPharma in a report on Tuesday, February 20th. They issued a "buy" rating and a $30.00 price target for the company. Finally, Jefferies Financial Group assumed 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 Stock Up 2.2 %

The business's 50 day simple moving average is $19.75.

Insider Activity at ArriVent BioPharma

In other ArriVent BioPharma news, major shareholder Hillhouse Investment Managemen bought 555,555 shares of the company's stock in a transaction that occurred on 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 completion of 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. In other news, Director Orbimed Advisors Llc purchased 444,444 shares of the company's stock in a transaction on Tuesday, January 30th. The stock was bought 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 directly owns 1,513,664 shares of the company's stock, valued at approximately $27,245,952. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Hillhouse Investment Managemen purchased 555,555 shares of the company's stock in a transaction on Tuesday, January 30th. The shares were purchased 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 of the company's stock, 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.