Acrivon Therapeutics (NASDAQ:ACRV) Trading Up 8.8% – Here’s What Happened

Acrivon Therapeutics, Inc. (NASDAQ:ACRVGet Free Report) shares shot up 8.8% on Friday . The stock traded as high as $1.8951 and last traded at $1.85. 477,361 shares were traded during mid-day trading, an increase of 84% from the average session volume of 259,535 shares. The stock had previously closed at $1.70.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Acrivon Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, September 2nd. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.50.

View Our Latest Research Report on ACRV

Acrivon Therapeutics Price Performance

The firm has a fifty day moving average price of $1.88 and a two-hundred day moving average price of $1.74. The stock has a market capitalization of $79.27 million, a PE ratio of -0.98 and a beta of 1.92.

Acrivon Therapeutics (NASDAQ:ACRVGet Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.07. On average, research analysts expect that Acrivon Therapeutics, Inc. will post -1.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Acrivon Therapeutics

In other news, CEO Peter Blume-Jensen sold 14,036 shares of Acrivon Therapeutics stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $2.21, for a total transaction of $31,019.56. Following the completion of the sale, the chief executive officer directly owned 2,230,052 shares in the company, valued at approximately $4,928,414.92. This trade represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 18,253 shares of company stock worth $38,850 in the last ninety days. 10.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Acrivon Therapeutics stock. Spark Investment Management LLC purchased a new position in Acrivon Therapeutics, Inc. (NASDAQ:ACRVFree Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 28,300 shares of the company’s stock, valued at approximately $50,000. Spark Investment Management LLC owned 0.07% of Acrivon Therapeutics at the end of the most recent reporting period. 71.62% of the stock is currently owned by institutional investors and hedge funds.

About Acrivon Therapeutics

(Get Free Report)

Acrivon Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for patients with cancer. The company uses its Acrivon Predictive Precision Oncology platform to identify drug candidates and match them with tumor characteristics that may predict treatment response.

Acrivon’s lead investigational product is ACR-368, also known as prexasertib, a small-molecule inhibitor designed to target checkpoint kinase 1 and related cancer cell-cycle mechanisms.

Further Reading

Receive News & Ratings for Acrivon Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acrivon Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.