Acrivon Therapeutics (NASDAQ:ACRV) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Acrivon Therapeutics (NASDAQ:ACRV) from a hold rating to a sell rating in a report published on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings raised 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.50.

Acrivon Therapeutics Stock Down 1.9%

Shares of NASDAQ:ACRV opened at $1.58 on Friday. The company has a market cap of $67.70 million, a P/E ratio of -0.84 and a beta of 1.96. Acrivon Therapeutics has a 52 week low of $1.27 and a 52 week high of $3.56. The business has a fifty day simple moving average of $1.88 and a 200-day simple moving average of $1.76.

Acrivon Therapeutics (NASDAQ:ACRV) last released 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. Sell-side analysts expect that Acrivon Therapeutics 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 that occurred on Tuesday, August 25th. The shares were sold at an average price of $2.21, for a total transaction of $31,019.56. Following the completion of the sale, 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 through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 17,345 shares of company stock worth $37,578 in the last ninety days. 10.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Acrivon Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in ACRV. StoneX Group Inc. acquired a new stake in Acrivon Therapeutics in the third quarter valued at approximately $43,000. Spark Investment Management LLC purchased a new stake in shares of Acrivon Therapeutics during the second quarter valued at approximately $50,000. Finally, Renaissance Technologies LLC lifted its position in shares of Acrivon Therapeutics by 19.6% during the first quarter. Renaissance Technologies LLC now owns 758,440 shares of the company’s stock worth $1,054,000 after purchasing an additional 124,271 shares in the last quarter. Institutional investors and hedge funds 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.