Acrivon Therapeutics (NASDAQ:ACRV) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Key Points

• Acrivon Therapeutics beat quarterly earnings expectations, reporting a loss of $0.43 per share versus the analyst consensus estimate of a $0.49 loss.
• Shares declined 0.6% to $1.72 during midday trading, while the company’s market capitalization stood at approximately $73.6 million.
• Institutional investors own 71.62% of the stock, and analysts maintain a “Moderate Buy” consensus rating with an average price target of $11.67, despite Acrivon’s lead KRAS G12C cancer candidate remaining in early clinical trials.

Acrivon Therapeutics (NASDAQ:ACRV - Get Free Report) posted its earnings results on Wednesday. The company reported ($0.43) earnings per share for the quarter, topping analysts' consensus estimates of ($0.49) by $0.06, FiscalAI reports.

Acrivon Therapeutics Trading Down 0.6%

Shares of ACRV stock traded down $0.01 during mid-day trading on Wednesday, reaching $1.72. The stock had a trading volume of 148,756 shares, compared to its average volume of 1,010,306. The firm has a market capitalization of $73.62 million, a PE ratio of -0.86 and a beta of 1.85. The stock's 50-day moving average price is $1.66 and its two-hundred day moving average price is $1.68. Acrivon Therapeutics has a 52-week low of $1.25 and a 52-week high of $3.56.

Hedge Funds Weigh In On Acrivon Therapeutics

A number of institutional investors have recently bought and sold shares of ACRV. Invesco Ltd. bought a new position in shares of Acrivon Therapeutics in the 1st quarter worth approximately $72,000. XTX Topco Ltd bought a new position in Acrivon Therapeutics in the 2nd quarter worth about $126,000. Jane Street Group LLC purchased a new stake in Acrivon Therapeutics during the 2nd quarter valued at about $371,000. UBS Group AG increased its stake in Acrivon Therapeutics by 150,057.8% during the 3rd quarter. UBS Group AG now owns 683,218 shares of the company's stock valued at $1,237,000 after purchasing an additional 682,763 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in Acrivon Therapeutics by 76.2% during the 3rd quarter. Two Sigma Investments LP now owns 319,205 shares of the company's stock valued at $578,000 after purchasing an additional 138,033 shares in the last quarter. 71.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Acrivon Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, July 15th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $11.67.

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.

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