Wall Street Zen Upgrades Acrivon Therapeutics (NASDAQ:ACRV) to Hold

Key Points

• Wall Street Zen upgraded Acrivon Therapeutics from “sell” to “hold,” while Weiss Ratings downgraded it to a weaker “sell” rating. Despite the mixed signals, analysts’ consensus is “Moderate Buy,” with a $13.50 target price.
• Acrivon shares opened at $1.99, near the middle of their $1.27–$3.56 52-week range, with an $85.27 million market capitalization. The company’s latest quarterly loss of $0.43 per share was better than analysts’ expected loss of $0.50.
• CEO Peter Blume-Jensen sold 14,036 shares for about $31,000 to cover tax withholding obligations, while institutional investors own 71.62% of the stock. Acrivon is a clinical-stage biotechnology company developing precision cancer treatments, including lead candidate ACR-368.

Acrivon Therapeutics (NASDAQ:ACRV - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Monday, Wall Street Zen reports.

Separately, Weiss Ratings cut shares of Acrivon Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, September 24th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Acrivon Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.50.

Acrivon Therapeutics Price Performance

NASDAQ:ACRV opened at $1.99 on Monday. Acrivon Therapeutics has a one year low of $1.27 and a one year high of $3.56. The company has a market cap of $85.27 million, a PE ratio of -1.06 and a beta of 1.91. The firm has a 50-day moving average of $1.93 and a 200-day moving average of $1.78.

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

Insiders Place Their Bets

In other news, CEO Peter Blume-Jensen sold 14,036 shares of the business's stock in a transaction that occurred 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. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 18,253 shares of company stock worth $38,850 in the last three months. 10.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Acrivon Therapeutics

An institutional investor recently bought a new position in Acrivon Therapeutics stock. Spark Investment Management LLC purchased a new stake in Acrivon Therapeutics, Inc. (NASDAQ:ACRV - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 28,300 shares of the company's stock, valued at approximately $50,000. Spark Investment Management LLC owned approximately 0.07% of Acrivon Therapeutics as of its most recent SEC filing. Institutional investors own 71.62% of the company's stock.

Acrivon Therapeutics Company Profile

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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