ArriVent BioPharma (NASDAQ:AVBP) Trading Up 6%

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on AVBP shares. Citigroup started coverage on shares of ArriVent BioPharma in a research note on Tuesday, February 20th. They issued a "buy" rating and a $30.00 price target on the stock. Jefferies Financial Group started coverage on shares of ArriVent BioPharma in a research note on Tuesday, February 20th. They issued a "buy" rating and a $35.00 price target on the stock. Finally, The Goldman Sachs Group started coverage on ArriVent BioPharma in a research report on Tuesday, February 20th. They issued a "buy" rating and a $27.00 target price for the company.

ArriVent BioPharma Stock Down 0.6 %

The firm's 50-day moving average is $18.53.

Insider Activity at ArriVent BioPharma

In other ArriVent BioPharma news, Director Orbimed Advisors Llc bought 444,444 shares of ArriVent BioPharma stock in a transaction on Tuesday, January 30th. The shares were acquired at an average price 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 in the company, valued at approximately $27,245,952. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, major shareholder Hillhouse Investment Managemen purchased 555,555 shares of the business's stock in a transaction dated 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 completion of the purchase, the insider now owns 4,484,672 shares in the company, valued at approximately $80,724,096. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Orbimed Advisors Llc acquired 444,444 shares of the company's stock in a transaction that occurred 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 owns 1,513,664 shares of the company's stock, valued at $27,245,952. The disclosure for this purchase can be found here.

About ArriVent BioPharma

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.

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