Acrivon Therapeutics (NASDAQ:ACRV) Stock Rating Lowered by Wall Street Zen

Acrivon Therapeutics (NASDAQ:ACRV) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday, Wall Street Zen reports.

Separately, Weiss Ratings lowered Acrivon Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Acrivon Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $13.50.

Acrivon Therapeutics Price Performance

Shares of ACRV stock opened at $2.06 on Friday. The business’s fifty day moving average price is $1.91 and its 200 day moving average price is $1.77. The firm has a market capitalization of $88.27 million, a PE ratio of -1.10 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 released its 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. Equities research analysts expect that Acrivon Therapeutics will post -1.76 earnings per share for the current fiscal year.

Insider Activity 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 transaction of $31,019.56. Following the completion of the transaction, the chief executive officer directly owned 2,230,052 shares of the company’s stock, valued at $4,928,414.92. This trade represents a 0.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 18,253 shares of company stock valued at $38,850 in the last quarter. 10.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Acrivon Therapeutics

A hedge fund recently bought a new position in Acrivon Therapeutics stock. Spark Investment Management LLC acquired a new stake in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,300 shares of the company’s stock, valued at approximately $50,000. Spark Investment Management LLC owned approximately 0.07% of Acrivon Therapeutics as of its most recent SEC filing. 71.62% of the stock is owned by institutional investors and hedge funds.

About Acrivon Therapeutics

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.