Acrivon Therapeutics (NASDAQ:ACRV) CEO Sells $31,019.56 in Stock

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) CEO Peter Blume-Jensen sold 14,036 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $2.21, for a total transaction of $31,019.56. Following the sale, the chief executive officer directly owned 2,230,052 shares in the company, valued at $4,928,414.92. The trade was a 0.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Peter Blume-Jensen also recently made the following trade(s):

• On Tuesday, August 18th, Peter Blume-Jensen sold 484 shares of Acrivon Therapeutics stock. The shares were sold at an average price of $2.01, for a total transaction of $972.84.
• On Tuesday, August 18th, Peter Blume-Jensen sold 1,229 shares of Acrivon Therapeutics stock. The shares were sold at an average price of $2.01, for a total transaction of $2,470.29.

Acrivon Therapeutics Stock Performance

Shares of Acrivon Therapeutics stock opened at $2.06 on Friday. The firm has a 50-day simple moving average of $1.82 and a two-hundred day simple moving average of $1.70. Acrivon Therapeutics, Inc. has a fifty-two week low of $1.27 and a fifty-two week high of $3.56. The company has a market cap of $88.27 million, a P/E ratio of -1.10 and a beta of 1.85.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its earnings results on Wednesday, August 12th. The company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.07. Equities research analysts forecast that Acrivon Therapeutics, Inc. will post -1.8 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Invesco Ltd. purchased a new stake in shares of Acrivon Therapeutics in the first quarter valued at about $72,000. XTX Topco Ltd purchased a new position in Acrivon Therapeutics during the second quarter worth about $126,000. Jane Street Group LLC acquired a new position in Acrivon Therapeutics in the 2nd quarter valued at about $371,000. 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 last quarter. Finally, Two Sigma Investments LP grew its stake in shares of Acrivon Therapeutics by 76.2% in the 3rd 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 during the period. Institutional investors and hedge funds own 71.62% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Acrivon Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.50.

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.