Citadel Advisors LLC Reduces Holdings in Acrivon Therapeutics, Inc. (NASDAQ:ACRV)

Citadel Advisors LLC trimmed its position in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 1.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,119,646 shares of the company’s stock after selling 20,982 shares during the quarter. Citadel Advisors LLC owned 0.07% of Acrivon Therapeutics worth $12,760,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ACRV. China Universal Asset Management Co. Ltd. purchased a new position in Acrivon Therapeutics during the fourth quarter worth $40,000. American Century Companies Inc. grew its holdings in shares of Acrivon Therapeutics by 14.2% in the fourth quarter. American Century Companies Inc. now owns 17,588 shares of the company’s stock worth $106,000 after purchasing an additional 2,186 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Acrivon Therapeutics by 20.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 37,063 shares of the company’s stock worth $223,000 after purchasing an additional 6,239 shares during the last quarter. Barclays PLC grew its holdings in shares of Acrivon Therapeutics by 14.4% in the fourth quarter. Barclays PLC now owns 38,091 shares of the company’s stock worth $228,000 after purchasing an additional 4,785 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Acrivon Therapeutics by 548.3% in the third quarter. JPMorgan Chase & Co. now owns 33,991 shares of the company’s stock worth $238,000 after purchasing an additional 28,748 shares during the last quarter. 71.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Acrivon Therapeutics in a report on Wednesday, March 26th. KeyCorp assumed coverage on shares of Acrivon Therapeutics in a report on Friday, January 31st. They issued an “overweight” rating on the stock. Piper Sandler assumed coverage on shares of Acrivon Therapeutics in a report on Monday, May 5th. They issued an “overweight” rating and a $6.00 price target on the stock. Finally, HC Wainwright dropped their target price on shares of Acrivon Therapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, March 26th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $19.17.

Insider Buying and Selling at Acrivon Therapeutics

In other Acrivon Therapeutics news, major shareholder Perceptive Advisors Llc sold 215,283 shares of the stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $1.56, for a total transaction of $335,841.48. Following the completion of the sale, the insider now directly owns 4,090,906 shares of the company’s stock, valued at approximately $6,381,813.36. This represents a 5.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 1,707,833 shares of company stock valued at $3,009,858. 11.90% of the stock is currently owned by insiders.

Acrivon Therapeutics Price Performance

Shares of Acrivon Therapeutics stock opened at $1.13 on Wednesday. Acrivon Therapeutics, Inc. has a 1 year low of $1.13 and a 1 year high of $10.16. The firm’s 50-day moving average is $2.62 and its two-hundred day moving average is $5.10. The stock has a market cap of $35.43 million, a price-to-earnings ratio of -0.42 and a beta of 1.88.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its earnings results on Thursday, March 27th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.09. On average, equities analysts expect that Acrivon Therapeutics, Inc. will post -2.49 earnings per share for the current year.

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.