Acrivon Therapeutics (NASDAQ:ACRV) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Acrivon Therapeutics (NASDAQ:ACRV) announced its quarterly earnings data on Wednesday. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.06, FiscalAI reports.

Acrivon Therapeutics Price Performance

Shares of ACRV traded down $0.01 during trading hours on Wednesday, hitting $1.72. The stock had a trading volume of 148,756 shares, compared to its average volume of 1,010,306. The firm has a market capitalization of $73.62 million, a PE ratio of -0.86 and a beta of 1.85. Acrivon Therapeutics has a 12 month low of $1.25 and a 12 month high of $3.56. The stock has a fifty day moving average price of $1.66 and a 200 day moving average price of $1.68.

Institutional Investors Weigh In On Acrivon Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Schonfeld Strategic Advisors LLC purchased a new position in shares of Acrivon Therapeutics in the fourth quarter worth approximately $40,000. Vermillion & White Wealth Management Group LLC purchased a new position in Acrivon Therapeutics during the fourth quarter valued at $44,000. Focus Partners Wealth purchased a new position in shares of Acrivon Therapeutics during the 3rd quarter valued at about $36,000. Quadrature Capital Ltd purchased a new position in Acrivon Therapeutics during the fourth quarter valued at approximately $50,000. Finally, Invesco Ltd. purchased a new position in shares of Acrivon Therapeutics during the 1st quarter valued at $72,000. Hedge funds and other institutional investors own 71.62% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Acrivon Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 15th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.