Acrivon Therapeutics (NASDAQ:ACRV) Share Price Breaks Above 200 Day Moving Average – What’s Next?

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $1.76 and traded as high as $1.79. Acrivon Therapeutics shares last traded at $1.79, with a volume of 132,239 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ACRV. Weiss Ratings raised shares of Acrivon Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 9th. Wall Street Zen raised shares of Acrivon Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, October 5th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.50.

Acrivon Therapeutics Stock Down 5.7%

The firm has a market capitalization of $71.13 million, a P/E ratio of -0.88 and a beta of 1.91. The firm has a 50 day moving average of $1.94 and a 200-day moving average of $1.76.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.43) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.07. As a group, research analysts expect that Acrivon Therapeutics, Inc. will post -1.76 EPS for the current year.

Insider Activity at Acrivon Therapeutics

In related news, CEO Peter Blume-Jensen sold 14,036 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $2.21, for a total value of $31,019.56. Following the transaction, the chief executive officer owned 2,230,052 shares in the company, valued at approximately $4,928,414.92. This trade represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 18,487 shares of company stock valued at $39,370 in the last quarter. 10.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Acrivon Therapeutics

A hedge fund recently raised its position in Acrivon Therapeutics stock. Renaissance Technologies LLC boosted its position in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 19.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 758,440 shares of the company’s stock after buying an additional 124,271 shares during the period. Renaissance Technologies LLC owned approximately 1.77% of Acrivon Therapeutics worth $1,054,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 71.62% of the company’s stock.

About Acrivon Therapeutics

Acrivon Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision oncology medicines for patients with difficult-to-treat cancers. The company uses its proprietary OncoSignature platform to identify tumor characteristics that may predict a patient’s response to a particular therapy, with the goal of matching treatments to the patients most likely to benefit.

Acrivon’s lead investigational product is ACR-368, an oral small-molecule therapy designed to target cell-cycle checkpoint mechanisms that cancer cells rely on for survival.