Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) have received a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $11.6667.

A number of research analysts have recently commented on the stock. Piper Sandler lifted their price objective on shares of Acrivon Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a research report on Friday, January 9th. Wall Street Zen downgraded shares of Acrivon Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. HC Wainwright reissued a “buy” rating and set a $19.00 price target on shares of Acrivon Therapeutics in a research report on Tuesday, November 25th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Acrivon Therapeutics in a research report on Monday, December 29th.

Acrivon Therapeutics Stock Down 0.5%

ACRV stock opened at $1.88 on Friday. The company has a market cap of $59.33 million, a price-to-earnings ratio of -0.88 and a beta of 1.73. Acrivon Therapeutics has a twelve month low of $1.05 and a twelve month high of $8.00. The business has a 50 day moving average price of $2.26 and a two-hundred day moving average price of $1.86.

Acrivon Therapeutics (NASDAQ:ACRV) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.10. On average, equities research analysts anticipate that Acrivon Therapeutics will post -2.49 EPS for the current fiscal year.

Insider Transactions at Acrivon Therapeutics

In related news, CEO Peter Blume-Jensen acquired 49,000 shares of Acrivon Therapeutics stock in a transaction on Wednesday, January 14th. The stock was purchased at an average cost of $1.68 per share, with a total value of $82,320.00. Following the completion of the transaction, the chief executive officer directly owned 2,095,771 shares in the company, valued at $3,520,895.28. This trade represents a 2.39% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders acquired 67,832 shares of company stock worth $114,534. Company insiders own 11.90% of the company’s stock.

Hedge Funds Weigh In On Acrivon Therapeutics

Several large investors have recently modified their holdings of ACRV. Focus Partners Wealth bought a new stake in shares of Acrivon Therapeutics during the 3rd quarter worth about $36,000. Quadrature Capital Ltd acquired a new stake in Acrivon Therapeutics during the second quarter worth approximately $26,000. Invesco Ltd. acquired a new stake in Acrivon Therapeutics during the first quarter worth approximately $72,000. Algert Global LLC acquired a new stake in Acrivon Therapeutics during the third quarter worth approximately $81,000. Finally, XTX Topco Ltd bought a new stake in shares of Acrivon Therapeutics during the second quarter worth 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.