Acrivon Therapeutics (NASDAQ:ACRV) Stock Price Down 0.6% – Should You Sell?

Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) traded down 0.6% during mid-day trading on Monday . The stock traded as low as $1.7150 and last traded at $1.74. Approximately 144,711 shares were traded during trading, a decline of 70% from the average daily volume of 487,326 shares. The stock had previously closed at $1.75.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Acrivon Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 15th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Acrivon Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $11.67.

Acrivon Therapeutics Stock Down 4.0%

The stock’s 50-day simple moving average is $1.69 and its two-hundred day simple moving average is $1.73. The company has a market capitalization of $71.91 million, a price-to-earnings ratio of -0.84 and a beta of 1.82.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.49) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.49). On average, sell-side analysts forecast that Acrivon Therapeutics, Inc. will post -1.92 EPS for the current year.

Hedge Funds Weigh In On Acrivon Therapeutics

Hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its position in shares of Acrivon Therapeutics by 19.6% in the first quarter. Renaissance Technologies LLC now owns 758,440 shares of the company’s stock valued at $1,054,000 after acquiring an additional 124,271 shares in the last quarter. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Acrivon Therapeutics during the fourth quarter worth approximately $44,000. Quadrature Capital Ltd purchased a new stake in shares of Acrivon Therapeutics during the fourth quarter worth approximately $50,000. Bridgeway Capital Management LLC raised its stake in Acrivon Therapeutics by 87.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 42,900 shares of the company’s stock valued at $103,000 after purchasing an additional 20,000 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Acrivon Therapeutics in the 4th quarter valued at $40,000. 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.