Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Given Average Recommendation of “Moderate Buy” by Brokerages

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $11.6667.

A number of brokerages recently weighed in on ACRV. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price target on shares of Acrivon Therapeutics in a research report on Tuesday, November 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Acrivon Therapeutics in a research report on Monday, December 29th. Piper Sandler raised their target price on Acrivon Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Friday, January 9th. Finally, Wall Street Zen raised Acrivon Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday.

Acrivon Therapeutics Stock Down 2.0%

Shares of ACRV stock opened at $1.50 on Tuesday. Acrivon Therapeutics has a fifty-two week low of $1.05 and a fifty-two week high of $5.96. The firm’s 50 day moving average price is $1.99 and its two-hundred day moving average price is $1.90. The stock has a market cap of $47.34 million, a price-to-earnings ratio of -0.70 and a beta of 1.74.

Insider Buying and Selling at Acrivon Therapeutics

In other news, CEO Peter Blume-Jensen bought 49,000 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The stock was acquired at an average cost of $1.68 per share, for a total transaction of $82,320.00. Following the completion of the purchase, the chief executive officer owned 2,095,771 shares of the company’s stock, valued at $3,520,895.28. This trade represents a 2.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired 67,832 shares of company stock valued at $114,534 in the last ninety days. 8.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Acrivon Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. purchased a new position in Acrivon Therapeutics in the 1st quarter valued at about $72,000. XTX Topco Ltd purchased a new position in Acrivon Therapeutics in the second quarter valued at about $126,000. Quadrature Capital Ltd purchased a new position in Acrivon Therapeutics in the second quarter valued at about $26,000. Jane Street Group LLC acquired a new stake in Acrivon Therapeutics during the 2nd quarter valued at approximately $371,000. Finally, UBS Group AG increased its holdings in Acrivon Therapeutics by 150,057.8% during the 3rd quarter. UBS Group AG now owns 683,218 shares of the company’s stock worth $1,237,000 after purchasing an additional 682,763 shares during the last quarter. Institutional investors and hedge funds own 71.62% of the company’s stock.

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.