Wall Street Zen Upgrades Acrivon Therapeutics (NASDAQ:ACRV) to “Hold”

Acrivon Therapeutics (NASDAQ:ACRVGet Free Report) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

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

View Our Latest Report on ACRV

Acrivon Therapeutics Stock Performance

ACRV opened at $1.85 on Friday. Acrivon Therapeutics has a fifty-two week low of $1.27 and a fifty-two week high of $3.56. The firm has a 50-day moving average of $1.88 and a 200 day moving average of $1.75. The firm has a market cap of $79.27 million, a P/E ratio of -0.98 and a beta of 1.92.

Acrivon Therapeutics (NASDAQ:ACRVGet Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.07. Equities research analysts predict that Acrivon Therapeutics will post -1.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Peter Blume-Jensen sold 14,036 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $2.21, for a total transaction of $31,019.56. Following the completion of the transaction, the chief executive officer owned 2,230,052 shares of the company’s stock, valued at approximately $4,928,414.92. The trade was a 0.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 18,253 shares of company stock worth $38,850 over the last three months. 10.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Acrivon Therapeutics stock. Spark Investment Management LLC purchased a new stake in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRVFree Report) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 28,300 shares of the company’s stock, valued at approximately $50,000. Spark Investment Management LLC owned approximately 0.07% of Acrivon Therapeutics at the end of the most recent reporting period. Institutional investors and hedge funds own 71.62% of the company’s stock.

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

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