Acrivon Therapeutics (NASDAQ:ACRV) Shares Down 0.6% – Here’s Why

Acrivon Therapeutics, Inc. (NASDAQ:ACRV)’s stock price dropped 0.6% during trading on Monday. The company traded as low as $1.69 and last traded at $1.72. 259,132 shares changed hands during trading, an increase of 18% from the average session volume of 219,964 shares. The stock had previously closed at $1.73.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ACRV. Wall Street Zen raised shares of Acrivon Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, October 5th. Weiss Ratings upgraded shares of Acrivon Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 9th. Three investment analysts have rated the stock with a Buy rating and one has given 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 price target of $13.50.

Acrivon Therapeutics Stock Up 2.9%

The stock has a fifty day simple moving average of $1.97 and a 200-day simple moving average of $1.76. The company has a market capitalization of $76.71 million, a P/E ratio of -0.95 and a beta of 1.91.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its earnings results on Wednesday, August 12th. The company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.07. Analysts predict that Acrivon Therapeutics, Inc. will post -1.76 earnings per share for the current fiscal year.

Insider Transactions at Acrivon Therapeutics

In other Acrivon Therapeutics news, CEO Peter Blume-Jensen sold 14,036 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $2.21, for a total value of $31,019.56. Following the transaction, the chief executive officer directly owned 2,230,052 shares in the company, valued at $4,928,414.92. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 18,487 shares of company stock worth $39,370. Company insiders own 10.50% of the company’s stock.

Institutional Trading of Acrivon Therapeutics

An institutional investor recently raised its stake in Acrivon Therapeutics stock. Renaissance Technologies LLC grew its position in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 19.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 758,440 shares of the company’s stock after acquiring an additional 124,271 shares during the period. Renaissance Technologies LLC owned 1.77% of Acrivon Therapeutics worth $1,054,000 at the end of the most recent reporting period. Institutional investors own 71.62% of the company’s stock.

Acrivon Therapeutics Company Profile

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.