Acrivon Therapeutics (NASDAQ:ACRV) Stock Rating Cut to Sell at Wall Street Zen

Acrivon Therapeutics (NASDAQ:ACRV) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings raised shares of Acrivon Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 9th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.50.

Acrivon Therapeutics Stock Up 2.5%

ACRV stock opened at $1.61 on Friday. The company’s 50-day moving average price is $1.89 and its two-hundred day moving average price is $1.76. Acrivon Therapeutics has a 12 month low of $1.27 and a 12 month high of $3.56. The firm has a market cap of $68.99 million, a P/E ratio of -0.86 and a beta of 1.96.

Acrivon Therapeutics (NASDAQ:ACRV) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.07. Equities analysts predict that Acrivon Therapeutics will post -1.76 EPS for the current year.

Insider Activity

In other Acrivon Therapeutics news, CEO Peter Blume-Jensen sold 14,036 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 2,230,052 shares of the company’s stock, valued at approximately $4,928,414.92. This trade represents a 0.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 17,345 shares of company stock worth $37,578 over the last three months. Insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On Acrivon Therapeutics

Several large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its holdings in Acrivon Therapeutics by 19.6% in the first quarter. Renaissance Technologies LLC now owns 758,440 shares of the company’s stock valued at $1,054,000 after purchasing an additional 124,271 shares during the period. Spark Investment Management LLC purchased a new stake in Acrivon Therapeutics during the second quarter valued at about $50,000. Finally, StoneX Group Inc. bought a new stake in shares of Acrivon Therapeutics during the third quarter valued at approximately $43,000. Institutional investors and hedge funds own 71.62% of the company’s stock.

Acrivon Therapeutics Company Profile

Acrivon Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision oncology medicines for patients with difficult-to-treat cancers. The company uses its proprietary OncoSignature platform to identify tumor characteristics that may predict a patient’s response to a particular therapy, with the goal of matching treatments to the patients most likely to benefit.

Acrivon’s lead investigational product is ACR-368, an oral small-molecule therapy designed to target cell-cycle checkpoint mechanisms that cancer cells rely on for survival.