ArriVent BioPharma Inc.’s recent filing unveils that its 10% Owner HILLHOUSE INVESTMENT MANAGEMEN acquired Company’s shares for reported $10.0 million on Jan 30 ’24. In the deal valued at $18.00 per share,555,555 shares were bought. As a result of this transaction, HILLHOUSE INVESTMENT MANAGEMEN now holds 4,484,672 shares worth roughly $75.34 million.
Then, HEALY JAMES bought 444,444 shares, generating $7,999,992 in total proceeds. Upon buying the shares at $18.00, the Director now owns 1,696,752 shares.
Before that, GORDON CARL L bought 444,444 shares. ArriVent BioPharma Inc. shares valued at $7,999,992 were divested by the Director at a price of $18.00 per share. As a result of the transaction, GORDON CARL L now holds 1,513,664 shares, worth roughly $25.43 million.
Jefferies initiated its ArriVent BioPharma Inc. [AVBP] rating to a Buy in a research note published on February 20, 2024; the price target was $35. A number of analysts have revised their coverage, including Goldman’s analysts, who began to cover the stock in mid February with a ‘”a Buy”‘ rating. Citigroup began covering AVBP with “Buy” recommendation on February 20, 2024.
Price Performance Review of AVBP
On Tuesday, ArriVent BioPharma Inc. [NASDAQ:AVBP] saw its stock fall -1.18% to $16.80. Over the last five days, the stock has lost -3.06%. ArriVent BioPharma Inc. shares have fallen nearly -16.00% since the year began.
Levels Of Support And Resistance For AVBP Stock
The 24-hour chart illustrates a support level at 16.31, which if violated will result in even more drops to 15.82. On the upside, there is a resistance level at 17.42. A further resistance level may holdings at 18.04. The Relative Strength Index (RSI) on the 14-day chart is 38.13, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.78, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 86.52%. Stochastics %K at 13.36% indicates the stock is a buying.
