Acrivon Therapeutics (NASDAQ:ACRV) Shares Up 3.2% – Here’s Why

Acrivon Therapeutics, Inc. (NASDAQ:ACRV)’s stock price shot up 3.2% during mid-day trading on Monday . The stock traded as high as $1.64 and last traded at $1.61. 865,467 shares changed hands during trading, an increase of 47% from the average session volume of 589,292 shares. The stock had previously closed at $1.56.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Piper Sandler raised their target price on Acrivon Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Friday, January 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Acrivon Therapeutics in a report on Monday, December 29th. Wall Street Zen lowered Acrivon Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, March 1st. Finally, Jefferies Financial Group restated a “buy” rating on shares of Acrivon Therapeutics in a report on Monday, March 2nd. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $11.67.

Acrivon Therapeutics Price Performance

The business has a 50 day moving average price of $1.58 and a 200 day moving average price of $1.94. The firm has a market capitalization of $64.11 million, a P/E ratio of -0.82 and a beta of 1.72.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its quarterly earnings data on Thursday, March 19th. The company reported ($0.49) EPS for the quarter, hitting analysts’ consensus estimates of ($0.49). As a group, equities analysts expect that Acrivon Therapeutics, Inc. will post -2.49 EPS for the current year.

Hedge Funds Weigh In On Acrivon Therapeutics

A number of institutional investors have recently made changes to their positions in ACRV. Invesco Ltd. bought a new position in shares of Acrivon Therapeutics in the first quarter worth about $72,000. XTX Topco Ltd acquired a new stake in Acrivon Therapeutics during the second quarter worth about $126,000. Jane Street Group LLC acquired a new stake in Acrivon Therapeutics during the second quarter worth about $371,000. UBS Group AG grew 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 buying an additional 682,763 shares in the last quarter. Finally, Two Sigma Investments LP grew its position in Acrivon Therapeutics by 76.2% during the third 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 in the last quarter. 71.62% of the stock is currently owned by institutional investors.

About Acrivon Therapeutics

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.