Brokerages Set Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Price Target at $11.67

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) has received a consensus rating of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $11.6667.

ACRV has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Acrivon Therapeutics in a research note on Monday, December 29th. Piper Sandler boosted their price objective on Acrivon Therapeutics from $6.00 to $8.00 and gave the stock an “overweight” rating in a report on Friday, January 9th. Wall Street Zen lowered Acrivon Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Acrivon Therapeutics in a report on Monday, March 2nd.

Acrivon Therapeutics Price Performance

ACRV stock opened at $1.33 on Friday. Acrivon Therapeutics has a one year low of $1.05 and a one year high of $3.56. The stock has a market cap of $51.52 million, a price-to-earnings ratio of -0.66 and a beta of 1.79. The company has a fifty day moving average price of $1.68 and a two-hundred day moving average price of $1.94.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its quarterly earnings data on Thursday, March 19th. The company reported ($0.49) earnings per share for the quarter, meeting the consensus estimate of ($0.49). Research analysts anticipate that Acrivon Therapeutics will post -2.49 EPS for the current fiscal year.

Insider Buying and Selling at Acrivon Therapeutics

In other news, CEO Peter Blume-Jensen bought 49,000 shares of the company’s stock in a transaction dated Wednesday, January 14th. The stock was bought at an average price of $1.68 per share, with a total value of $82,320.00. Following the completion of the acquisition, the chief executive officer owned 2,095,771 shares of the company’s stock, valued at $3,520,895.28. This represents a 2.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders acquired a total of 67,832 shares of company stock worth $114,534 over the last three months. 11.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Acrivon Therapeutics

Hedge funds have recently bought and sold shares of the business. UBS Group AG boosted its holdings in Acrivon Therapeutics by 150,057.8% in the 3rd quarter. UBS Group AG now owns 683,218 shares of the company’s stock valued at $1,237,000 after purchasing an additional 682,763 shares during the period. Marshall Wace LLP increased its holdings in shares of Acrivon Therapeutics by 231.4% during the fourth quarter. Marshall Wace LLP now owns 496,081 shares of the company’s stock worth $1,196,000 after purchasing an additional 346,366 shares during the period. Jane Street Group LLC bought a new position in shares of Acrivon Therapeutics during the second quarter worth approximately $371,000. Two Sigma Investments LP raised its position in shares of Acrivon Therapeutics by 76.2% in the third quarter. Two Sigma Investments LP now owns 319,205 shares of the company’s stock valued at $578,000 after buying an additional 138,033 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Acrivon Therapeutics in the second quarter valued at approximately $126,000. 71.62% of the stock is owned by 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.