Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Major Shareholder Perceptive Advisors Llc Buys 2,353,000 Shares

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) major shareholder Perceptive Advisors Llc bought 2,353,000 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was purchased at an average price of $8.50 per share, with a total value of $20,000,500.00. Following the completion of the purchase, the insider now directly owns 5,360,858 shares of the company’s stock, valued at approximately $45,567,293. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Acrivon Therapeutics Stock Performance

Shares of ACRV stock opened at $9.61 on Tuesday. The stock’s fifty day moving average is $5.60 and its 200-day moving average is $5.24. The stock has a market capitalization of $217.57 million, a PE ratio of -3.52 and a beta of 1.93. Acrivon Therapeutics, Inc. has a 52 week low of $3.19 and a 52 week high of $14.30.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ACRV. BMO Capital Markets reiterated an “outperform” rating and set a $18.00 price objective on shares of Acrivon Therapeutics in a research note on Monday, April 1st. HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Acrivon Therapeutics in a research note on Thursday, March 28th. JMP Securities reiterated a “market outperform” rating and set a $14.00 price objective on shares of Acrivon Therapeutics in a research note on Monday, April 1st. Finally, LADENBURG THALM/SH SH dropped their price objective on Acrivon Therapeutics from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Acrivon Therapeutics currently has an average rating of “Buy” and an average target price of $20.14.

Institutional Trading of Acrivon Therapeutics

Several large investors have recently made changes to their positions in the business. Citadel Advisors LLC grew its holdings in shares of Acrivon Therapeutics by 0.5% during the second quarter. Citadel Advisors LLC now owns 1,649,646 shares of the company’s stock worth $21,379,000 after purchasing an additional 8,624 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Acrivon Therapeutics during the fourth quarter worth $14,092,000. BlackRock Inc. grew its holdings in shares of Acrivon Therapeutics by 12.5% during the second quarter. BlackRock Inc. now owns 533,355 shares of the company’s stock worth $6,912,000 after purchasing an additional 59,128 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Acrivon Therapeutics by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 475,977 shares of the company’s stock worth $2,342,000 after purchasing an additional 7,570 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Acrivon Therapeutics by 1.7% during the second quarter. Geode Capital Management LLC now owns 178,453 shares of the company’s stock worth $2,313,000 after purchasing an additional 3,049 shares during the last quarter. Institutional investors own 71.62% of the company’s stock.

Acrivon Therapeutics Company Profile

Acrivon Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in developing oncology medicines for the patients whose tumors are predicted to be sensitive to each specific medicine by utilizing its proteomics-based patient responder identification platform. The company's Acrivon Predictive Precision Proteomics, a precision medicine platform enables the creation of drug specific proprietary OncoSignature companion diagnostics that are used to identify the patients to benefit from its drug candidates.