Acrivon Therapeutics (NASDAQ:ACRV) Posts Earnings Results

Acrivon Therapeutics (NASDAQ:ACRV) announced its earnings results on Wednesday. The company reported ($0.49) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.49), FiscalAI reports.

Acrivon Therapeutics Stock Performance

ACRV stock opened at $1.92 on Friday. The company has a fifty day moving average price of $1.69 and a 200-day moving average price of $1.94. The company has a market capitalization of $82.18 million, a P/E ratio of -0.96 and a beta of 2.01. Acrivon Therapeutics has a 52-week low of $1.05 and a 52-week high of $3.56.

Analyst Ratings Changes

ACRV has been the topic of several analyst reports. Weiss Ratings upgraded shares of Acrivon Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, April 27th. 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, Jefferies Financial Group reiterated a “buy” rating on shares of Acrivon Therapeutics in a research report on Monday, March 2nd. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.67.

Hedge Funds Weigh In On Acrivon Therapeutics

Several large investors have recently modified their holdings of the business. UBS Group AG raised its stake in shares of Acrivon Therapeutics by 150,057.8% during the third quarter. UBS Group AG now owns 683,218 shares of the company’s stock valued at $1,237,000 after acquiring an additional 682,763 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Acrivon Therapeutics by 1.7% during the fourth quarter. Renaissance Technologies LLC now owns 634,169 shares of the company’s stock valued at $1,528,000 after acquiring an additional 10,769 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Acrivon Therapeutics by 231.4% during the fourth quarter. Marshall Wace LLP now owns 496,081 shares of the company’s stock valued at $1,196,000 after acquiring an additional 346,366 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Acrivon Therapeutics by 18.3% during the fourth quarter. Jane Street Group LLC now owns 342,071 shares of the company’s stock valued at $824,000 after acquiring an additional 52,823 shares during the last quarter. Finally, Two Sigma Investments LP raised its stake in shares of Acrivon Therapeutics by 76.2% during the third quarter. Two Sigma Investments LP now owns 319,205 shares of the company’s stock valued at $578,000 after acquiring an additional 138,033 shares during the last quarter. Institutional investors own 71.62% of the company’s stock.

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.