Acrivon Therapeutics (NASDAQ:ACRV) Trading Down 2.5% – Here’s What Happened

Acrivon Therapeutics, Inc. (NASDAQ:ACRV)’s stock price dropped 2.5% during trading on Thursday . The stock traded as low as $1.58 and last traded at $1.58. 312,567 shares changed hands during trading, a decline of 11% from the average daily volume of 349,786 shares. The stock had previously closed at $1.62.

Wall Street Analysts Forecast Growth

ACRV has been the topic of several analyst reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of Acrivon Therapeutics in a research report on Monday, March 2nd. Wall Street Zen lowered shares of Acrivon Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st. Finally, Weiss Ratings raised shares of Acrivon Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $11.67.

Acrivon Therapeutics Stock Up 6.3%

The company has a 50-day simple moving average of $1.70 and a two-hundred day simple moving average of $1.81. The firm has a market cap of $71.90 million, a PE ratio of -0.84 and a beta of 1.89.

Acrivon Therapeutics (NASDAQ:ACRV) last announced its earnings results on Wednesday, May 13th. The company reported ($0.49) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.49). As a group, equities analysts predict that Acrivon Therapeutics, Inc. will post -1.92 earnings per share for the current year.

Institutional Trading of Acrivon Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Focus Partners Wealth bought a new stake in Acrivon Therapeutics in the third quarter worth about $36,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Acrivon Therapeutics during the 4th quarter valued at approximately $40,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Acrivon Therapeutics during the 4th quarter worth approximately $44,000. Quadrature Capital Ltd purchased a new stake in shares of Acrivon Therapeutics during the 4th quarter worth approximately $50,000. Finally, Invesco Ltd. bought a new stake in shares of Acrivon Therapeutics in the 1st quarter worth approximately $72,000. Hedge funds and other institutional investors 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.