ArriVent BioPharma (NASDAQ:AVBP) Shares Up 4.9%

Shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP) traded up 4.9% on Friday . The stock traded as high as $16.26 and last traded at $16.26. 5,924 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 207,111 shares. The stock had previously closed at $15.50.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of ArriVent BioPharma in a research report on Tuesday, February 20th. They issued a “buy” rating and a $35.00 price objective for the company. Citigroup started coverage on shares of ArriVent BioPharma in a research report on Tuesday, February 20th. They issued a “buy” rating and a $30.00 price objective for the company. Finally, The Goldman Sachs Group started coverage on shares of ArriVent BioPharma in a report on Tuesday, February 20th. They set a “buy” rating and a $27.00 target price for the company.

ArriVent BioPharma Trading Up 1.4 %

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

Insiders Place Their Bets

In other ArriVent BioPharma news, major shareholder Hillhouse Investment Managemen purchased 555,555 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were purchased at an average cost of $18.00 per share, with a total value of $9,999,990.00. Following the transaction, the insider now directly owns 4,484,672 shares of the company’s stock, valued at approximately $80,724,096. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other ArriVent BioPharma news, major shareholder Hillhouse Investment Managemen purchased 555,555 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were purchased at an average cost of $18.00 per share, with a total value of $9,999,990.00. Following the transaction, the insider now directly owns 4,484,672 shares of the company’s stock, valued at approximately $80,724,096. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Orbimed Advisors Llc bought 444,444 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was purchased at an average cost 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 approximately $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.