Peter Blume-Jensen Buys 49,000 Shares of Acrivon Therapeutics (NASDAQ:ACRV) Stock

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) CEO Peter Blume-Jensen acquired 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 purchase, the chief executive officer directly owned 2,095,771 shares in the company, valued at approximately $3,520,895.28. This trade represents a 2.39% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Acrivon Therapeutics Stock Performance

Shares of ACRV traded up $0.11 during trading hours on Friday, hitting $1.98. The stock had a trading volume of 1,986,017 shares, compared to its average volume of 5,851,670. Acrivon Therapeutics, Inc. has a 12-month low of $1.05 and a 12-month high of $8.00. The firm has a market cap of $62.49 million, a P/E ratio of -0.93 and a beta of 1.73. The company’s fifty day simple moving average is $2.30 and its 200 day simple moving average is $1.82.

Acrivon Therapeutics (NASDAQ:ACRV) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.10. As a group, sell-side analysts predict that Acrivon Therapeutics, Inc. will post -2.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

ACRV has been the topic of several research reports. Wall Street Zen lowered Acrivon Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Acrivon Therapeutics in a research note on Monday, December 29th. Piper Sandler raised their target price on Acrivon Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Friday, January 9th. Finally, 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. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.67.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd acquired a new position in Acrivon Therapeutics during the 2nd quarter worth $26,000. Focus Partners Wealth acquired a new stake in shares of Acrivon Therapeutics in the 3rd quarter valued at about $36,000. Invesco Ltd. bought a new position in shares of Acrivon Therapeutics during the first quarter worth about $72,000. Algert Global LLC acquired a new position in Acrivon Therapeutics in the third quarter worth about $81,000. Finally, XTX Topco Ltd bought a new stake in Acrivon Therapeutics in the second quarter valued at about $126,000. 71.62% of the stock is currently 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.