Corton Capital Inc. Takes $73,000 Position in Acrivon Therapeutics, Inc. (NASDAQ:ACRV)

Corton Capital Inc. bought a new stake in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) in the fourth quarter, Holdings Channel reports. The institutional investor bought 12,159 shares of the company’s stock, valued at approximately $73,000.

Several other hedge funds have also made changes to their positions in the business. Acorn Capital Advisors LLC purchased a new position in shares of Acrivon Therapeutics in the 4th quarter valued at approximately $2,440,000. JPMorgan Chase & Co. grew its position in Acrivon Therapeutics by 548.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,991 shares of the company’s stock valued at $238,000 after buying an additional 28,748 shares during the last quarter. Northern Trust Corp increased its stake in Acrivon Therapeutics by 11.3% in the 4th quarter. Northern Trust Corp now owns 117,323 shares of the company’s stock valued at $706,000 after buying an additional 11,925 shares during the period. Barclays PLC raised its position in Acrivon Therapeutics by 51.2% during the 3rd quarter. Barclays PLC now owns 33,306 shares of the company’s stock worth $233,000 after buying an additional 11,273 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of Acrivon Therapeutics in the 4th quarter worth $40,000. Institutional investors and hedge funds own 71.62% of the company’s stock.

Acrivon Therapeutics Stock Performance

ACRV stock opened at $1.18 on Friday. The firm has a market cap of $37.00 million, a P/E ratio of -0.44 and a beta of 1.88. Acrivon Therapeutics, Inc. has a 1 year low of $1.16 and a 1 year high of $10.16. The stock has a 50-day simple moving average of $2.88 and a 200-day simple moving average of $5.26.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its quarterly earnings data on Thursday, March 27th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.09. On average, equities research analysts predict that Acrivon Therapeutics, Inc. will post -2.49 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Acrivon Therapeutics in a research note on Wednesday, March 26th. HC Wainwright reduced their target price on Acrivon Therapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, March 26th. Piper Sandler began coverage on shares of Acrivon Therapeutics in a research note on Monday. They set an “overweight” rating and a $6.00 price target on the stock. Finally, KeyCorp initiated coverage on shares of Acrivon Therapeutics in a research note on Friday, January 31st. They issued an “overweight” rating for the company. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, Acrivon Therapeutics has a consensus rating of “Buy” and an average price target of $19.17.

Insider Buying and Selling

In related news, major shareholder Perceptive Advisors Llc sold 437,881 shares of the firm’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $1.41, for a total transaction of $617,412.21. Following the transaction, the insider now directly owns 3,403,025 shares in the company, valued at $4,798,265.25. This trade represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 1,707,833 shares of company stock worth $3,009,858. Corporate insiders own 8.50% of the company’s stock.

About Acrivon Therapeutics

Acrivon Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in developing oncology medicines for the patients whose tumors are predicted to be sensitive to each specific medicine by utilizing its proteomics-based patient responder identification platform. The company's Acrivon Predictive Precision Proteomics, a precision medicine platform enables the creation of drug specific proprietary OncoSignature companion diagnostics that are used to identify the patients to benefit from its drug candidates.