Acrivon Therapeutics (NASDAQ:ACRV) CEO Acquires $82,320.00 in Stock

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) CEO Peter Blume-Jensen purchased 49,000 shares of the business’s stock in a transaction on Wednesday, January 14th. The shares were bought at an average cost of $1.68 per share, for a total transaction of $82,320.00. Following the completion of the transaction, the chief executive officer directly owned 2,095,771 shares in the company, valued at $3,520,895.28. This trade represents a 2.39% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Acrivon Therapeutics Stock Up 5.9%

Shares of ACRV stock opened at $1.98 on Monday. Acrivon Therapeutics, Inc. has a 52-week low of $1.05 and a 52-week high of $8.00. The stock has a market cap of $62.49 million, a PE ratio of -0.93 and a beta of 1.73. The business has a 50-day simple moving average of $2.30 and a 200-day simple moving average of $1.83.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its earnings results on Thursday, November 13th. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.10. Sell-side analysts anticipate that Acrivon Therapeutics, Inc. will post -2.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ACRV. Weiss Ratings reiterated a “sell (d-)” rating on shares of Acrivon Therapeutics in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Acrivon Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Piper Sandler increased their target price on shares of Acrivon Therapeutics from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Friday, January 9th. Finally, HC Wainwright restated a “buy” rating and issued a $19.00 price target on shares of Acrivon Therapeutics in a research note on Tuesday, November 25th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.67.

Institutional Investors Weigh In On Acrivon Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of ACRV. Quadrature Capital Ltd acquired a new position in Acrivon Therapeutics in the 2nd quarter valued at about $26,000. Focus Partners Wealth purchased a new stake in shares of Acrivon Therapeutics during the 3rd quarter valued at approximately $36,000. Invesco Ltd. purchased a new stake in shares of Acrivon Therapeutics during the 1st quarter valued at approximately $72,000. Algert Global LLC purchased a new position in Acrivon Therapeutics in the third quarter worth approximately $81,000. Finally, XTX Topco Ltd purchased a new position in Acrivon Therapeutics in the second quarter worth approximately $126,000. 71.62% of the stock is currently owned by institutional investors and hedge funds.

Acrivon Therapeutics Company Profile

Acrivon Therapeutics (NASDAQ:ACRV) is a clinical-stage biotechnology company focused on the discovery and development of stapled peptide therapeutics for the treatment of RAS-driven cancers. Its proprietary platform is designed to enhance the stability, cell permeability and target specificity of peptide molecules, enabling the disruption of protein–protein interactions that are traditionally challenging to inhibit with small-molecule drugs or biologics.

The company’s lead development candidate is a hydrocarbon-stapled peptide selectively targeting the KRAS G12C mutation, currently in early clinical trials.