Acrivon Therapeutics (NASDAQ:ACRV) Stock Moved Down to Sell by Wall Street Zen

Wall Street Zen downgraded shares of Acrivon Therapeutics (NASDAQ:ACRV) from a hold rating to a sell rating in a research report released on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings upgraded Acrivon Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 9th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.50.

Acrivon Therapeutics Stock Performance

Shares of ACRV opened at $1.61 on Friday. Acrivon Therapeutics has a 1 year low of $1.27 and a 1 year high of $3.56. The company’s 50-day simple moving average is $1.89 and its 200-day simple moving average is $1.76. The stock has a market capitalization of $68.99 million, a PE ratio of -0.86 and a beta of 1.96.

Acrivon Therapeutics (NASDAQ:ACRV) last announced its earnings results on Wednesday, August 12th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.07. On average, sell-side analysts predict that Acrivon Therapeutics will post -1.76 earnings per share for the current year.

Insider Transactions at Acrivon Therapeutics

In related news, CEO Peter Blume-Jensen sold 14,036 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $2.21, for a total value of $31,019.56. Following the completion of the sale, the chief executive officer directly owned 2,230,052 shares of the company’s stock, valued at approximately $4,928,414.92. This represents a 0.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 17,345 shares of company stock valued at $37,578. 10.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Acrivon Therapeutics

Large investors have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its position in shares of Acrivon Therapeutics by 19.6% in the first quarter. Renaissance Technologies LLC now owns 758,440 shares of the company’s stock valued at $1,054,000 after acquiring an additional 124,271 shares during the period. Spark Investment Management LLC bought a new stake in Acrivon Therapeutics in the second quarter worth approximately $50,000. Finally, StoneX Group Inc. bought a new position in Acrivon Therapeutics during the third quarter worth $43,000. Institutional investors and hedge funds own 71.62% of the company’s stock.

Acrivon Therapeutics Company Profile

Acrivon Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision oncology medicines for patients with difficult-to-treat cancers. The company uses its proprietary OncoSignature platform to identify tumor characteristics that may predict a patient’s response to a particular therapy, with the goal of matching treatments to the patients most likely to benefit.

Acrivon’s lead investigational product is ACR-368, an oral small-molecule therapy designed to target cell-cycle checkpoint mechanisms that cancer cells rely on for survival.