Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Major Shareholder Buys $20,000,500.00 in Stock

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) major shareholder Perceptive Advisors Llc bought 2,353,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were acquired at an average cost of $8.50 per share, with a total value of $20,000,500.00. Following the purchase, the insider now directly owns 5,360,858 shares of the company’s stock, valued at $45,567,293. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Acrivon Therapeutics Stock Down 3.8 %

ACRV stock opened at $9.61 on Tuesday. Acrivon Therapeutics, Inc. has a twelve month low of $3.19 and a twelve month high of $14.30. The stock’s 50 day moving average is $5.60 and its 200-day moving average is $5.24. The firm has a market capitalization of $217.57 million, a PE ratio of -3.52 and a beta of 1.93.

Wall Street Analyst Weigh In

Several research firms recently commented on ACRV. JMP Securities reaffirmed a “market outperform” rating and set a $14.00 target price on shares of Acrivon Therapeutics in a research note on Monday, April 1st. LADENBURG THALM/SH SH cut their price target on Acrivon Therapeutics from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, April 5th. BMO Capital Markets reiterated an “outperform” rating and issued a $18.00 price target on shares of Acrivon Therapeutics in a report on Monday, April 1st. Finally, HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of Acrivon Therapeutics in a report on Thursday, March 28th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Acrivon Therapeutics presently has an average rating of “Buy” and a consensus price target of $20.14.

Institutional Trading of Acrivon Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN lifted its holdings in Acrivon Therapeutics by 108.1% during the second quarter. Wells Fargo & Company MN now owns 3,305 shares of the company’s stock worth $43,000 after acquiring an additional 1,717 shares during the period. Bank of New York Mellon Corp lifted its holdings in Acrivon Therapeutics by 8.6% during the second quarter. Bank of New York Mellon Corp now owns 24,795 shares of the company’s stock worth $321,000 after acquiring an additional 1,958 shares during the period. New York State Common Retirement Fund bought a new stake in Acrivon Therapeutics during the first quarter worth $28,000. Citigroup Inc. lifted its holdings in Acrivon Therapeutics by 1,281.2% during the second quarter. Citigroup Inc. now owns 2,790 shares of the company’s stock worth $36,000 after acquiring an additional 2,588 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Acrivon Therapeutics by 4.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 60,958 shares of the company’s stock worth $790,000 after acquiring an additional 2,749 shares during the period. 71.62% of the stock is currently owned by institutional investors.

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.