ArriVent BioPharma (NASDAQ:AVBP) Sets New 52-Week Low at $15.38

ArriVent BioPharma, Inc. (NASDAQ:AVBP)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $15.38 and last traded at $15.46, with a volume of 11991 shares. The stock had previously closed at $16.04.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AVBP. The Goldman Sachs Group initiated coverage on ArriVent BioPharma in a research note on Tuesday, February 20th. They set a “buy” rating and a $27.00 price objective on the stock. Jefferies Financial Group initiated coverage on ArriVent BioPharma in a report on Tuesday, February 20th. They set a “buy” rating and a $35.00 target price on the stock. Finally, Citigroup initiated coverage on ArriVent BioPharma in a report on Tuesday, February 20th. They set a “buy” rating and a $30.00 target price on the stock.

ArriVent BioPharma Price Performance

The company has a fifty day moving average of $19.01.

Insider Buying and Selling at ArriVent BioPharma

In other news, Director Orbimed Advisors Llc acquired 444,444 shares of the firm’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 $7,999,992.00. Following the acquisition, the director now directly owns 1,513,664 shares in the company, valued at approximately $27,245,952. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, major shareholder Hillhouse Investment Managemen acquired 555,555 shares of the firm’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 acquisition, the insider now directly 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 accessible through the SEC website. Also, Director Orbimed Advisors Llc acquired 444,444 shares of the firm’s stock in a transaction on 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 $27,245,952. 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.