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

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

A number of other analysts have also weighed in on ACRV. HC Wainwright reiterated a “buy” rating and issued a $19.00 price objective on shares of Acrivon Therapeutics in a research note on Tuesday, November 25th. Piper Sandler increased their price target on Acrivon Therapeutics from $6.00 to $8.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Acrivon Therapeutics in a research note on Monday, December 29th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.67.

Acrivon Therapeutics Stock Down 6.9%

Shares of NASDAQ:ACRV opened at $1.63 on Friday. Acrivon Therapeutics has a 52-week low of $1.05 and a 52-week high of $8.00. The stock has a market cap of $51.44 million, a price-to-earnings ratio of -0.77 and a beta of 1.73. The business has a 50-day moving average price of $2.32 and a 200-day moving average price of $1.81.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its earnings results on Thursday, November 13th. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.10. As a group, equities analysts anticipate that Acrivon Therapeutics will post -2.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Acrivon Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of ACRV. UBS Group AG boosted its position in Acrivon Therapeutics by 150,057.8% during the third quarter. UBS Group AG now owns 683,218 shares of the company’s stock worth $1,237,000 after purchasing an additional 682,763 shares in the last quarter. Two Sigma Investments LP raised its stake in shares of Acrivon Therapeutics by 76.2% during the 3rd quarter. Two Sigma Investments LP now owns 319,205 shares of the company’s stock worth $578,000 after buying an additional 138,033 shares during the period. Jane Street Group LLC acquired a new position in shares of Acrivon Therapeutics during the 2nd quarter worth approximately $371,000. XTX Topco Ltd purchased a new position in shares of Acrivon Therapeutics during the 2nd quarter valued at approximately $126,000. Finally, Algert Global LLC acquired a new stake in Acrivon Therapeutics in the 3rd quarter valued at $81,000. Hedge funds and other institutional investors own 71.62% of the company’s stock.

Acrivon Therapeutics Company Profile

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.