Acrivon Therapeutics (NASDAQ:ACRV) COO Buys $17,200.00 in Stock

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) COO Eric Devroe purchased 10,000 shares of the business’s stock in a transaction on Tuesday, January 13th. The stock was purchased at an average cost of $1.72 per share, for a total transaction of $17,200.00. Following the acquisition, the chief operating officer owned 75,308 shares in the company, valued at approximately $129,529.76. The trade was a 15.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Acrivon Therapeutics Trading Up 5.9%

Acrivon Therapeutics stock opened at $1.98 on Friday. The firm has a market cap of $62.49 million, a P/E ratio of -0.93 and a beta of 1.73. Acrivon Therapeutics, Inc. has a 1-year low of $1.05 and a 1-year high of $8.00. The firm has a 50-day moving average of $2.30 and a 200-day moving average of $1.82.

Acrivon Therapeutics (NASDAQ:ACRV) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.10. Research analysts forecast that Acrivon Therapeutics, Inc. will post -2.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Acrivon Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Focus Partners Wealth bought a new position in shares of Acrivon Therapeutics during the third quarter valued at approximately $36,000. Quadrature Capital Ltd purchased a new stake in shares of Acrivon Therapeutics in the 2nd quarter worth approximately $26,000. Invesco Ltd. purchased a new stake in shares of Acrivon Therapeutics in the 1st quarter worth approximately $72,000. Algert Global LLC bought a new position in Acrivon Therapeutics during the 3rd quarter valued at approximately $81,000. Finally, XTX Topco Ltd purchased a new position in Acrivon Therapeutics during the second quarter valued at $126,000. Hedge funds and other institutional investors own 71.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on ACRV shares. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price target on shares of Acrivon Therapeutics in a research note on Tuesday, November 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Acrivon Therapeutics in a research report on Monday, December 29th. Wall Street Zen lowered shares of Acrivon Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Finally, Piper Sandler increased their price target on shares of Acrivon Therapeutics from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Friday, January 9th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.67.

Acrivon Therapeutics Company Profile

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.