Acrivon Therapeutics (NASDAQ:ACRV) Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Acrivon Therapeutics from “hold” to “sell,” while Weiss Ratings also lowered its rating. Despite this, the broader analyst consensus remains “Moderate Buy,” with an average price target of $13.50.
• Acrivon shares opened at $2.10, with a market capitalization of approximately $90 million and a 12-month trading range of $1.27 to $3.56. The company reported a quarterly loss of $0.43 per share, beating the $0.50 consensus estimate.
• CEO Peter Blume-Jensen sold 14,036 shares worth about $31,000 to cover tax obligations tied to vested equity awards; insiders own 10.5% of the company, while institutional investors hold 71.62%.

Acrivon Therapeutics (NASDAQ:ACRV - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Sunday, Wall Street Zen reports.

Separately, Weiss Ratings downgraded shares of Acrivon Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Acrivon Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $13.50.

Acrivon Therapeutics Stock Down 0.9%

Acrivon Therapeutics stock opened at $2.10 on Friday. The business has a 50 day moving average price of $1.90 and a two-hundred day moving average price of $1.76. The stock has a market cap of $89.98 million, a price-to-earnings ratio of -1.12 and a beta of 1.92. Acrivon Therapeutics has a 12 month low of $1.27 and a 12 month high of $3.56.

Acrivon Therapeutics (NASDAQ:ACRV - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.07. On average, analysts expect that Acrivon Therapeutics will post -1.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Peter Blume-Jensen sold 14,036 shares of the firm's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $2.21, for a total transaction of $31,019.56. Following the completion of the sale, 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 transaction 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. In the last 90 days, insiders sold 18,253 shares of company stock worth $38,850. 10.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Acrivon Therapeutics

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

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.

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