Brokerages Set Acrivon Therapeutics, Inc. (NASDAQ:ACRV) PT at $11.67

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) has been assigned an average rating of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $11.6667.

A number of brokerages have commented on ACRV. Jefferies Financial Group reissued a “buy” rating on shares of Acrivon Therapeutics in a report on Monday, March 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 target price on shares of Acrivon Therapeutics in a research note on Tuesday, November 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Acrivon Therapeutics in a research report on Monday, December 29th. Wall Street Zen cut shares of Acrivon Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Finally, Piper Sandler raised their price target on shares of Acrivon Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Friday, January 9th.

Insider Buying and Selling

In other news, CEO Peter Blume-Jensen acquired 49,000 shares of the firm’s stock in a transaction on Wednesday, January 14th. The shares were purchased at an average cost of $1.68 per share, for a total transaction of $82,320.00. Following the transaction, the chief executive officer owned 2,095,771 shares of the company’s stock, valued at approximately $3,520,895.28. This represents a 2.39% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders acquired 67,832 shares of company stock valued at $114,534. 8.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Acrivon Therapeutics

Large investors have recently made changes to their positions in the company. Quadrature Capital Ltd bought a new position in Acrivon Therapeutics in the second quarter valued at about $26,000. Focus Partners Wealth bought a new stake in Acrivon Therapeutics during the 3rd quarter worth about $36,000. Schonfeld Strategic Advisors LLC acquired a new position in Acrivon Therapeutics during the 4th quarter valued at about $40,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of Acrivon Therapeutics in the 4th quarter valued at about $44,000. Finally, Invesco Ltd. bought a new position in shares of Acrivon Therapeutics in the 1st quarter valued at about $72,000. Institutional investors and hedge funds own 71.62% of the company’s stock.

Acrivon Therapeutics Stock Performance

Shares of ACRV opened at $1.60 on Friday. The company has a market cap of $61.98 million, a price-to-earnings ratio of -0.79 and a beta of 1.79. The stock has a fifty day moving average price of $1.71 and a two-hundred day moving average price of $1.95. Acrivon Therapeutics has a 52-week low of $1.05 and a 52-week high of $5.65.

Acrivon Therapeutics (NASDAQ:ACRV) last announced its earnings results on Thursday, March 19th. The company reported ($0.49) EPS for the quarter, hitting the consensus estimate of ($0.49). As a group, research analysts predict that Acrivon Therapeutics will post -2.49 EPS for the current fiscal year.

About Acrivon Therapeutics

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.