Acrivon Therapeutics (NASDAQ:ACRV) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Wall Street Zen upgraded Acrivon Therapeutics from “Sell” to “Hold,” while MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $13.50.
• Acrivon shares opened at $1.85, with a market capitalization of approximately $79.3 million and a 52-week range of $1.27 to $3.56. The company’s latest quarterly loss of $0.43 per share was narrower than analysts’ expected loss of $0.50.
• CEO Peter Blume-Jensen sold 14,036 shares for about $31,020 to cover tax withholding obligations, while institutional investors own 71.62% of the stock; Spark Investment Management also initiated a small position.

Acrivon Therapeutics (NASDAQ:ACRV - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of Acrivon Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, September 2nd. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $13.50.

Acrivon Therapeutics Price Performance

Shares of NASDAQ ACRV opened at $1.85 on Friday. The stock has a market capitalization of $79.27 million, a P/E ratio of -0.98 and a beta of 1.92. Acrivon Therapeutics has a one year low of $1.27 and a one year high of $3.56. The firm's 50 day simple moving average is $1.88 and its two-hundred day simple moving average is $1.74.

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 analysts' consensus estimates of ($0.50) by $0.07. As a group, equities analysts expect that Acrivon Therapeutics will post -1.8 earnings per share for the current fiscal year.

Insider Transactions at Acrivon Therapeutics

In other Acrivon Therapeutics news, CEO Peter Blume-Jensen sold 14,036 shares of the firm's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $2.21, for a total value of $31,019.56. Following the sale, the chief executive officer 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 18,253 shares of company stock valued at $38,850. 10.50% of the stock is owned by company insiders.

Institutional Trading of Acrivon Therapeutics

A hedge fund recently bought a new stake in Acrivon Therapeutics stock. Spark Investment Management LLC purchased a new stake in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 28,300 shares of the company's stock, valued at approximately $50,000. Spark Investment Management LLC owned 0.07% of Acrivon Therapeutics at the end of the most recent reporting period. Institutional investors own 71.62% of the company's stock.

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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