Acrivon Therapeutics (NASDAQ:ACRV) Posts Earnings Results, Meets Estimates

Acrivon Therapeutics (NASDAQ:ACRV) released its quarterly earnings data on Thursday. The company reported ($0.49) EPS for the quarter, meeting the consensus estimate of ($0.49), FiscalAI reports.

Acrivon Therapeutics Stock Performance

Shares of NASDAQ:ACRV traded down $0.02 during trading hours on Friday, hitting $1.68. The stock had a trading volume of 34,721 shares, compared to its average volume of 1,893,790. The stock’s fifty day simple moving average is $1.71 and its 200 day simple moving average is $1.94. Acrivon Therapeutics has a 1-year low of $1.05 and a 1-year high of $5.65. The firm has a market capitalization of $53.05 million, a price-to-earnings ratio of -0.79 and a beta of 1.79.

Insider Transactions at Acrivon Therapeutics

In other Acrivon Therapeutics news, CEO Peter Blume-Jensen purchased 49,000 shares of the stock in a transaction dated Wednesday, January 14th. The shares were bought at an average cost of $1.68 per share, with a total value of $82,320.00. Following the completion of the acquisition, the chief executive officer owned 2,095,771 shares of the company’s stock, valued at approximately $3,520,895.28. This trade represents a 2.39% increase in their ownership of the stock. 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 purchased 67,832 shares of company stock valued at $114,534. Corporate insiders own 11.90% of the company’s stock.

Institutional Trading of Acrivon Therapeutics

Several institutional investors have recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Acrivon Therapeutics in the 4th quarter valued at $44,000. Quadrature Capital Ltd acquired a new stake in Acrivon Therapeutics during the 4th quarter worth about $50,000. Bridgeway Capital Management LLC raised its holdings in Acrivon Therapeutics by 87.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 42,900 shares of the company’s stock worth $103,000 after buying an additional 20,000 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in Acrivon Therapeutics during the fourth quarter valued at about $40,000. Finally, Marshall Wace LLP boosted its holdings in shares of Acrivon Therapeutics by 231.4% in the fourth quarter. Marshall Wace LLP now owns 496,081 shares of the company’s stock worth $1,196,000 after buying an additional 346,366 shares during the period. Institutional investors and hedge funds own 71.62% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on ACRV shares. Wall Street Zen cut shares of Acrivon Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st. Piper Sandler upped their price objective on Acrivon Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a research note on Friday, January 9th. HC Wainwright reaffirmed a “buy” rating and set a $19.00 target price on shares of Acrivon Therapeutics in a report on Tuesday, November 25th. Jefferies Financial Group reiterated a “buy” rating on shares of Acrivon Therapeutics in a research report on Monday, March 2nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Acrivon Therapeutics in a report on Monday, December 29th. Five investment 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.com, the stock currently has a consensus 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.