ArriVent BioPharma (NASDAQ:AVBP) Sets New 1-Year Low at $14.35

ArriVent BioPharma, Inc. (NASDAQ:AVBP)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $14.35 and last traded at $15.33, with a volume of 8994 shares changing hands. The stock had previously closed at $15.30.

Wall Street Analysts Forecast Growth

AVBP has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on ArriVent BioPharma in a research report on Tuesday, February 20th. They issued a “buy” rating and a $35.00 price objective for the company. The Goldman Sachs Group initiated coverage on ArriVent BioPharma in a research report on Tuesday, February 20th. They issued a “buy” rating and a $27.00 price objective for the company. Finally, Citigroup initiated coverage on ArriVent BioPharma in a research report on Tuesday, February 20th. They issued a “buy” rating and a $30.00 price objective for the company.

ArriVent BioPharma Price Performance

The business’s fifty day simple moving average is $18.66.

Insider Buying and Selling at ArriVent BioPharma

In other news, Director Orbimed Advisors Llc bought 444,444 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were bought at an average cost of $18.00 per share, with a total value of $7,999,992.00. Following the purchase, the director now directly 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 is available at the SEC website. In related news, Director Orbimed Advisors Llc purchased 444,444 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was bought at an average price of $18.00 per share, for a total transaction of $7,999,992.00. Following the purchase, the director now owns 1,513,664 shares in the company, valued at approximately $27,245,952. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Hillhouse Investment Managemen purchased 555,555 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were 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 in the company, valued at approximately $80,724,096. 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.