ArriVent BioPharma (NASDAQ:AVBP) Stock Price Down 3.3%

ArriVent BioPharma, Inc. (NASDAQ:AVBP - Get Free Report)'s stock price dropped 3.3% during trading on Wednesday . The stock traded as low as $16.04 and last traded at $16.25. Approximately 30,546 shares changed hands during trading, a decline of 85% from the average daily volume of 200,150 shares. The stock had previously closed at $16.80.

Analysts Set New Price Targets

AVBP has been the topic of several recent research reports. Citigroup initiated coverage on shares of ArriVent BioPharma in a research report on Tuesday, February 20th. They issued a "buy" rating and a $30.00 price target on the stock. Jefferies Financial Group assumed coverage on ArriVent BioPharma in a report on Tuesday, February 20th. They set a "buy" rating and a $35.00 price target for the company. 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 price target for the company.

ArriVent BioPharma Trading Down 4.5 %

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

Insider Buying and Selling at ArriVent BioPharma

In other ArriVent BioPharma news, Director Orbimed Advisors Llc bought 444,444 shares of ArriVent BioPharma stock in a transaction that occurred on 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 transaction, the director now directly owns 1,513,664 shares in the company, valued at $27,245,952. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ArriVent BioPharma news, major shareholder Hillhouse Investment Managemen acquired 555,555 shares of the business's stock in a transaction dated Tuesday, January 30th. The stock was bought at an average price of $18.00 per share, with a total value of $9,999,990.00. Following the purchase, the insider now owns 4,484,672 shares of the company's stock, valued at $80,724,096. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Orbimed Advisors Llc purchased 444,444 shares of the firm'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 in the company, 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. It also engages in the development and commercialization of targeted cancer therapies for non-small-cell lung cancer (NSCLC) and other solid tumors.