Acrivon Therapeutics (NASDAQ:ACRV) Upgraded to “Hold” at Wall Street Zen

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

Separately, Weiss Ratings upgraded shares of Acrivon Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, September 2nd. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $13.50.

Acrivon Therapeutics Price Performance

NASDAQ:ACRV opened at $1.85 on Friday. The business has a 50 day moving average of $1.88 and a 200 day moving average of $1.74. The company has a market capitalization of $79.27 million, a price-to-earnings ratio of -0.98 and a beta of 1.92. Acrivon Therapeutics has a 1-year low of $1.27 and a 1-year high of $3.56.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.07. As a group, sell-side analysts anticipate that Acrivon Therapeutics will post -1.8 EPS for the current year.

Insider Buying and Selling at Acrivon Therapeutics

In other news, CEO Peter Blume-Jensen sold 14,036 shares of the firm’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 value of $31,019.56. Following the transaction, the chief executive officer owned 2,230,052 shares in the company, valued at approximately $4,928,414.92. This trade represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 18,253 shares of company stock worth $38,850 over the last ninety days. Corporate insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On Acrivon Therapeutics

An institutional investor recently raised its position in Acrivon Therapeutics stock. Renaissance Technologies LLC lifted its position in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 19.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 758,440 shares of the company’s stock after purchasing an additional 124,271 shares during the period. Renaissance Technologies LLC owned 1.77% of Acrivon Therapeutics worth $1,054,000 as of its most recent SEC filing. 71.62% of the stock is owned by institutional investors and hedge funds.

Acrivon Therapeutics Company Profile

Acrivon Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for patients with cancer. The company uses its Acrivon Predictive Precision Oncology platform to identify drug candidates and match them with tumor characteristics that may predict treatment response.

Acrivon’s lead investigational product is ACR-368, also known as prexasertib, a small-molecule inhibitor designed to target checkpoint kinase 1 and related cancer cell-cycle mechanisms.