Acrivon Therapeutics (NASDAQ:ACRV) Trading Up 3.2% - Still a Buy?

Key Points

• Shares rose 3.2% to $1.61 on Monday (intraday high $1.64) with volume ~865,467 shares, about a 47% increase versus the average daily volume.
• Analysts are mixed but the consensus is a Moderate Buy (4 Buys, 1 Hold, 1 Sell) with an average price target of $11.67, and Piper Sandler recently raised its target to $8.
• CEO Peter Blume-Jensen purchased 49,000 shares at $1.68, bringing insider ownership to 8.50% while institutions hold 71.62%, and Acrivon is a clinical-stage biotech advancing a stapled peptide targeting KRAS G12C in early trials.

Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV - Get Free Report) were up 3.2% on Monday . The stock traded as high as $1.64 and last traded at $1.61. Approximately 865,467 shares traded hands during trading, an increase of 47% from the average daily volume of 589,292 shares. The stock had previously closed at $1.56.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ACRV shares. Wall Street Zen cut Acrivon Therapeutics from a "hold" rating to a "sell" rating in a report on Sunday, March 1st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Acrivon Therapeutics in a research report on Monday, December 29th. Piper Sandler upped their price target on Acrivon Therapeutics from $6.00 to $8.00 and gave the company an "overweight" rating in a research report on Friday, January 9th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Acrivon Therapeutics in a research report on Monday, March 2nd. Four 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 data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $11.67.

Acrivon Therapeutics Stock Performance

The stock has a market cap of $62.37 million, a P/E ratio of -0.80 and a beta of 1.72. The firm has a 50-day moving average price of $1.58 and a 200-day moving average price of $1.94.

Acrivon Therapeutics (NASDAQ:ACRV - Get Free Report) last announced its earnings results on Thursday, March 19th. The company reported ($0.49) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.49). On average, research analysts predict that Acrivon Therapeutics, Inc. will post -2.49 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Peter Blume-Jensen acquired 49,000 shares of Acrivon Therapeutics stock in a transaction that occurred on Wednesday, January 14th. The stock was bought at an average price of $1.68 per share, with a total value of $82,320.00. Following the transaction, the chief executive officer directly owned 2,095,771 shares in the company, valued at approximately $3,520,895.28. This represents a 2.39% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 8.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACRV. Focus Partners Wealth bought a new position in Acrivon Therapeutics during the 3rd quarter valued at approximately $36,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Acrivon Therapeutics in the 4th quarter worth $40,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Acrivon Therapeutics in the 4th quarter worth $44,000. Quadrature Capital Ltd purchased a new position in shares of Acrivon Therapeutics in the 4th quarter worth $50,000. Finally, Invesco Ltd. purchased a new position in shares of Acrivon Therapeutics in the 1st quarter worth $72,000. Institutional investors own 71.62% of the company's stock.

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.

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