Citadel Advisors LLC Reduces Holdings in Acrivon Therapeutics, Inc. (NASDAQ:ACRV)

Citadel Advisors LLC decreased its holdings in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,119,646 shares of the company’s stock after selling 20,982 shares during the quarter. Citadel Advisors LLC owned 6.81% of Acrivon Therapeutics worth $12,760,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ACRV. Acorn Capital Advisors LLC purchased a new position in Acrivon Therapeutics during the fourth quarter valued at approximately $2,440,000. Northern Trust Corp lifted its holdings in Acrivon Therapeutics by 11.3% during the fourth quarter. Northern Trust Corp now owns 117,323 shares of the company’s stock valued at $706,000 after purchasing an additional 11,925 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Acrivon Therapeutics by 7.6% during the fourth quarter. Renaissance Technologies LLC now owns 49,400 shares of the company’s stock valued at $297,000 after purchasing an additional 3,500 shares in the last quarter. Barclays PLC lifted its holdings in Acrivon Therapeutics by 14.4% during the fourth quarter. Barclays PLC now owns 38,091 shares of the company’s stock valued at $228,000 after purchasing an additional 4,785 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Acrivon Therapeutics by 20.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 37,063 shares of the company’s stock valued at $223,000 after purchasing an additional 6,239 shares in the last quarter. Hedge funds and other institutional investors own 71.62% of the company’s stock.

Acrivon Therapeutics Stock Performance

Shares of ACRV opened at $1.13 on Wednesday. The company’s fifty day moving average is $2.62 and its 200 day moving average is $5.10. Acrivon Therapeutics, Inc. has a fifty-two week low of $1.13 and a fifty-two week high of $10.16. The stock has a market capitalization of $35.43 million, a PE ratio of -0.42 and a beta of 1.88.

Acrivon Therapeutics (NASDAQ:ACRV) last announced its quarterly earnings results on Thursday, March 27th. The company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.09. As a group, research analysts forecast that Acrivon Therapeutics, Inc. will post -2.49 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ACRV. Piper Sandler began coverage on shares of Acrivon Therapeutics in a report on Monday, May 5th. They set an “overweight” rating and a $6.00 price target on the stock. KeyCorp assumed coverage on shares of Acrivon Therapeutics in a research report on Friday, January 31st. They set an “overweight” rating on the stock. HC Wainwright reduced their price objective on shares of Acrivon Therapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, March 26th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Acrivon Therapeutics in a research report on Wednesday, March 26th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $19.17.

Insider Buying and Selling

In related news, major shareholder Perceptive Advisors Llc sold 215,283 shares of the business’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of $1.56, for a total value of $335,841.48. Following the sale, the insider now owns 4,090,906 shares in the company, valued at approximately $6,381,813.36. The trade was a 5.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 1,707,833 shares of company stock worth $3,009,858. Insiders own 11.90% of the company’s stock.

About Acrivon Therapeutics

Acrivon Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in developing oncology medicines for the patients whose tumors are predicted to be sensitive to each specific medicine by utilizing its proteomics-based patient responder identification platform. The company's Acrivon Predictive Precision Proteomics, a precision medicine platform enables the creation of drug specific proprietary OncoSignature companion diagnostics that are used to identify the patients to benefit from its drug candidates.