Acrivon Therapeutics (NASDAQ:ACRV) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Acrivon Therapeutics (NASDAQ:ACRV) from a sell rating to a hold rating in a research report sent to investors on Saturday.

Several other brokerages have also recently commented on ACRV. Weiss Ratings restated a “sell (d-)” rating on shares of Acrivon Therapeutics in a research report on Monday, December 29th. HC Wainwright restated a “buy” rating and set a $19.00 target price on shares of Acrivon Therapeutics in a research note on Tuesday, November 25th. Finally, Piper Sandler raised their target price on Acrivon Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Friday, January 9th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.67.

Acrivon Therapeutics Stock Down 2.0%

ACRV opened at $1.50 on Friday. Acrivon Therapeutics has a 12-month low of $1.05 and a 12-month high of $5.96. The business has a 50 day moving average of $1.99 and a 200-day moving average of $1.90. The stock has a market cap of $47.34 million, a price-to-earnings ratio of -0.70 and a beta of 1.74.

Insider Activity at Acrivon Therapeutics

In related news, CEO Peter Blume-Jensen bought 49,000 shares of the company’s stock in a transaction dated Wednesday, January 14th. The shares were bought at an average price of $1.68 per share, for a total transaction of $82,320.00. Following the completion of the acquisition, the chief executive officer directly owned 2,095,771 shares of the company’s stock, valued at $3,520,895.28. This trade represents a 2.39% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have bought 67,832 shares of company stock worth $114,534 over the last ninety days. Insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Acrivon Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC increased its stake in Acrivon Therapeutics by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 198,223 shares of the company’s stock valued at $478,000 after acquiring an additional 6,190 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Acrivon Therapeutics by 1.7% in the fourth quarter. Renaissance Technologies LLC now owns 634,169 shares of the company’s stock valued at $1,528,000 after acquiring an additional 10,769 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in Acrivon Therapeutics in the fourth quarter worth about $40,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Acrivon Therapeutics during the fourth quarter valued at approximately $44,000. Finally, Focus Partners Wealth purchased a new position in Acrivon Therapeutics during the 3rd quarter valued at about $36,000. 71.62% of the stock is owned by hedge funds and other institutional investors.

About Acrivon Therapeutics

Acrivon Therapeutics (NASDAQ:ACRV) is a clinical-stage biotechnology company focused on the discovery and development of stapled peptide therapeutics for the treatment of RAS-driven cancers. Its proprietary platform is designed to enhance the stability, cell permeability and target specificity of peptide molecules, enabling the disruption of protein–protein interactions that are traditionally challenging to inhibit with small-molecule drugs or biologics.

The company’s lead development candidate is a hydrocarbon-stapled peptide selectively targeting the KRAS G12C mutation, currently in early clinical trials.