Acrivon Therapeutics (NASDAQ:ACRV) Trading 0.7% Higher – Still a Buy?

Acrivon Therapeutics, Inc. (NASDAQ:ACRV)’s stock price traded up 0.7% during mid-day trading on Thursday . The company traded as high as $1.37 and last traded at $1.35. 205,394 shares traded hands during trading, a decline of 24% from the average session volume of 270,072 shares. The stock had previously closed at $1.34.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Piper Sandler assumed coverage on Acrivon Therapeutics in a report on Monday, May 5th. They set an “overweight” rating and a $6.00 target price on the stock. Oppenheimer reduced their target price on Acrivon Therapeutics from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, May 15th. Jones Trading reiterated a “hold” rating on shares of Acrivon Therapeutics in a report on Friday, May 16th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Acrivon Therapeutics in a report on Wednesday, March 26th. Finally, HC Wainwright cut their price target on Acrivon Therapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, March 26th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Acrivon Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $17.71.

Acrivon Therapeutics Trading Up 0.7%

The company has a market cap of $42.33 million, a PE ratio of -0.61 and a beta of 1.64. The firm has a 50 day moving average of $1.22 and a two-hundred day moving average of $3.35.

Acrivon Therapeutics (NASDAQ:ACRV) last released its quarterly earnings data 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. On average, research analysts forecast that Acrivon Therapeutics, Inc. will post -2.49 EPS for the current year.

Insider Transactions at Acrivon Therapeutics

In other news, major shareholder Perceptive Advisors Llc sold 1,054,669 shares of the stock in a transaction on Friday, April 25th. The stock was sold at an average price of $1.95, for a total transaction of $2,056,604.55. Following the transaction, the insider directly owned 4,306,189 shares of the company’s stock, valued at $8,397,068.55. This represents a 19.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 1,707,833 shares of company stock valued at $3,009,858. Corporate insiders own 11.90% of the company’s stock.

Hedge Funds Weigh In On Acrivon Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Acorn Capital Advisors LLC bought a new position in Acrivon Therapeutics in the 4th quarter worth $2,440,000. Northern Trust Corp raised 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 acquiring an additional 11,925 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in 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 acquiring an additional 23,535 shares during the period. Wealthedge Investment Advisors LLC raised its holdings in Acrivon Therapeutics by 420.1% during the first quarter. Wealthedge Investment Advisors LLC now owns 56,467 shares of the company’s stock valued at $115,000 after acquiring an additional 45,610 shares during the period. Finally, Renaissance Technologies LLC raised 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 acquiring an additional 3,500 shares during the period. 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.