Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 24.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,809 shares of the company’s stock after selling 8,182 shares during the period. JPMorgan Chase & Co. owned approximately 0.08% of Acrivon Therapeutics worth $155,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. China Universal Asset Management Co. Ltd. acquired a new stake in Acrivon Therapeutics in the fourth quarter valued at approximately $40,000. American Century Companies Inc. lifted its position in shares of Acrivon Therapeutics by 14.2% during the 4th quarter. American Century Companies Inc. now owns 17,588 shares of the company’s stock valued at $106,000 after buying an additional 2,186 shares in the last quarter. Finally, Barclays PLC grew its stake in Acrivon Therapeutics by 51.2% in the 3rd quarter. Barclays PLC now owns 33,306 shares of the company’s stock valued at $233,000 after acquiring an additional 11,273 shares during the period. Hedge funds and other institutional investors own 71.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ACRV shares. KeyCorp initiated coverage on shares of Acrivon Therapeutics in a research note on Friday, January 31st. They set an “overweight” rating for the company. HC Wainwright reduced their target price on Acrivon Therapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a 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, According to MarketBeat.com, Acrivon Therapeutics currently has a consensus rating of “Buy” and an average target price of $21.80.

Insider Activity at Acrivon Therapeutics

In related news, major shareholder Perceptive Advisors Llc sold 215,283 shares of the stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $1.56, for a total value of $335,841.48. Following the completion of the transaction, the insider now directly owns 4,090,906 shares in the company, valued at approximately $6,381,813.36. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 1,707,833 shares of company stock valued at $3,009,858. 8.50% of the stock is owned by company insiders.

Acrivon Therapeutics Price Performance

Shares of Acrivon Therapeutics stock opened at $1.41 on Monday. The stock’s 50 day simple moving average is $3.20 and its 200-day simple moving average is $5.42. The stock has a market cap of $44.21 million, a P/E ratio of -0.52 and a beta of 1.77. Acrivon Therapeutics, Inc. has a 1-year low of $1.30 and a 1-year high of $10.16.

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

Acrivon Therapeutics Company Profile

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.