Jones Trading Reaffirms Hold Rating for Acrivon Therapeutics (NASDAQ:ACRV)

Acrivon Therapeutics (NASDAQ:ACRV)‘s stock had its “hold” rating reaffirmed by investment analysts at Jones Trading in a note issued to investors on Friday,Benzinga reports.

ACRV has been the subject of several other reports. Oppenheimer cut their price target on shares of Acrivon Therapeutics from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Thursday. HC Wainwright dropped their target price on shares of Acrivon Therapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, March 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Acrivon Therapeutics in a report on Wednesday, March 26th. KeyCorp started coverage on shares of Acrivon Therapeutics in a report on Friday, January 31st. They set an “overweight” rating for the company. Finally, Piper Sandler started coverage on shares of Acrivon Therapeutics in a report on Monday, May 5th. They set an “overweight” rating and a $6.00 target price for the company. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Acrivon Therapeutics currently has a consensus rating of “Buy” and an average price target of $17.71.

Acrivon Therapeutics Stock Up 4.5%

NASDAQ ACRV opened at $1.15 on Friday. The company has a 50-day simple moving average of $2.36 and a two-hundred day simple moving average of $4.95. Acrivon Therapeutics has a 12-month low of $1.09 and a 12-month high of $10.16. The firm has a market cap of $36.06 million, a price-to-earnings ratio of -0.43 and a beta of 1.88.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.06. Equities analysts expect that Acrivon Therapeutics will post -2.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Perceptive Advisors Llc sold 437,881 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $1.41, for a total value of $617,412.21. Following the completion of the transaction, the insider now directly owns 3,403,025 shares of the company’s stock, valued at $4,798,265.25. This represents a 11.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 1,707,833 shares of company stock valued at $3,009,858 over the last three months. Corporate insiders own 11.90% of the company’s stock.

Hedge Funds Weigh In On Acrivon Therapeutics

Institutional investors have recently bought and sold shares of the stock. Barclays PLC raised its stake in Acrivon Therapeutics by 51.2% in the third quarter. Barclays PLC now owns 33,306 shares of the company’s stock worth $233,000 after buying an additional 11,273 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Acrivon Therapeutics by 548.3% during the third quarter. JPMorgan Chase & Co. now owns 33,991 shares of the company’s stock valued at $238,000 after purchasing an additional 28,748 shares in the last quarter. Acorn Capital Advisors LLC bought a new position in shares of Acrivon Therapeutics during the fourth quarter valued at approximately $2,440,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Acrivon Therapeutics by 29.7% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 102,784 shares of the company’s stock valued at $619,000 after purchasing an additional 23,535 shares in the last quarter. Finally, Corton Capital Inc. bought a new position in shares of Acrivon Therapeutics during the fourth quarter valued at approximately $73,000. 71.62% of the stock is owned by institutional investors.

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.