ArriVent BioPharma, Inc. (NASDAQ:AVBP – Get Free Report) shares hit a new 52-week low during trading on Thursday . The stock 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 Analyst Weigh In
AVBP has been the subject of several research analyst reports. Citigroup initiated coverage on ArriVent BioPharma in a report on Tuesday, February 20th. They issued a “buy” rating and a $30.00 price objective for the company. The Goldman Sachs Group initiated coverage on ArriVent BioPharma in a report on Tuesday, February 20th. They issued a “buy” rating and a $27.00 price objective for the company. Finally, Jefferies Financial Group initiated coverage on ArriVent BioPharma in a report on Tuesday, February 20th. They issued a “buy” rating and a $35.00 price objective for the company.
Check Out Our Latest Report on ArriVent BioPharma
ArriVent BioPharma Price Performance
Insider Activity at ArriVent BioPharma
In related news, major shareholder Hillhouse Investment Managemen bought 555,555 shares of the 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 $9,999,990.00. Following the completion of the transaction, the insider now owns 4,484,672 shares of the company’s stock, valued at $80,724,096. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ArriVent BioPharma news, Director Orbimed Advisors Llc acquired 444,444 shares of the stock in a transaction dated Tuesday, January 30th. The shares were 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 of the company’s stock, valued at $27,245,952. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Hillhouse Investment Managemen acquired 555,555 shares of the stock in a transaction dated Tuesday, January 30th. The stock was acquired at an average price of $18.00 per share, for a total transaction of $9,999,990.00. Following the completion of the transaction, the insider now directly owns 4,484,672 shares of the company’s stock, valued at $80,724,096. 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.
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