Acrivon Therapeutics, Inc. $ACRV Holdings Decreased by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. decreased its stake in Acrivon Therapeutics by 75.8%, owning 57,519 shares worth approximately $117,000 at the end of the last reporting period.
• Oppenheimer has lowered its price target for Acrivon Therapeutics from $9.00 to $8.00, maintaining an "outperform" rating, while the consensus rating remains a "Buy" with a target price of $15.00.
• Acrivon Therapeutics' stock has seen a trading increase of 9.6%, with current trading hovering around $1.82 and a market capitalization of $57.25 million.

Goldman Sachs Group Inc. reduced its stake in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV - Free Report) by 75.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,519 shares of the company's stock after selling 180,033 shares during the quarter. Goldman Sachs Group Inc. owned about 0.18% of Acrivon Therapeutics worth $117,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nuveen LLC bought a new stake in shares of Acrivon Therapeutics during the first quarter valued at about $27,000. Invesco Ltd. bought a new stake in Acrivon Therapeutics in the first quarter worth about $72,000. Finally, Wealthedge Investment Advisors LLC raised its position in Acrivon Therapeutics by 420.1% in the first quarter. Wealthedge Investment Advisors LLC now owns 56,467 shares of the company's stock worth $115,000 after acquiring an additional 45,610 shares in the last quarter. 71.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Oppenheimer dropped their price target on shares of Acrivon Therapeutics from $9.00 to $8.00 and set an "outperform" rating on the stock in a research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $15.00.

Acrivon Therapeutics Trading Up 9.6%

ACRV stock opened at $1.82 on Tuesday. Acrivon Therapeutics, Inc. has a one year low of $1.05 and a one year high of $8.74. The firm has a 50-day moving average of $1.42 and a two-hundred day moving average of $1.61. The firm has a market capitalization of $57.25 million, a PE ratio of -0.81 and a beta of 1.66.

Acrivon Therapeutics (NASDAQ:ACRV - Get Free Report) last issued its earnings results on Wednesday, August 13th. The company reported ($0.55) earnings per share for the quarter, beating analysts' consensus estimates of ($0.57) by $0.02. On average, equities research analysts anticipate that Acrivon Therapeutics, Inc. will post -2.49 earnings per share for the current year.

About Acrivon Therapeutics

Acrivon Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in developing oncology medicines for the patients whose tumors are predicted to be sensitive to each specific medicine by utilizing its proteomics-based patient responder identification platform. The company's Acrivon Predictive Precision Proteomics, a precision medicine platform enables the creation of drug specific proprietary OncoSignature companion diagnostics that are used to identify the patients to benefit from its drug candidates.

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