Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Major Shareholder Perceptive Advisors Llc Acquires 2,353,000 Shares

Acrivon Therapeutics, Inc. (NASDAQ:ACRV - Get Free Report) major shareholder Perceptive Advisors Llc acquired 2,353,000 shares of the business's stock in a transaction dated Thursday, April 11th. The stock was acquired at an average cost of $8.50 per share, with a total value of $20,000,500.00. Following the completion of the transaction, the insider now owns 5,360,858 shares of the company's stock, valued at $45,567,293. The transaction was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Acrivon Therapeutics Stock Down 3.8 %

Shares of NASDAQ ACRV traded down $0.38 during trading on Monday, reaching $9.61. The company had a trading volume of 394,205 shares, compared to its average volume of 632,500. The company's fifty day moving average price is $5.60 and its 200-day moving average price is $5.24. Acrivon Therapeutics, Inc. has a 12 month low of $3.19 and a 12 month high of $14.30. The stock has a market cap of $217.57 million, a P/E ratio of -3.52 and a beta of 1.93.

Wall Street Analyst Weigh In

ACRV has been the subject of several analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $20.00 price objective on shares of Acrivon Therapeutics in a report on Thursday, March 28th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $18.00 price objective on shares of Acrivon Therapeutics in a report on Monday, April 1st. JMP Securities reaffirmed a "market outperform" rating and issued a $14.00 price objective on shares of Acrivon Therapeutics in a report on Monday, April 1st. Finally, LADENBURG THALM/SH SH dropped their price objective on Acrivon Therapeutics from $18.00 to $14.00 and set a "buy" rating for the company in a report on Friday, April 5th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $20.14.

Institutional Investors Weigh In On Acrivon Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP acquired a new position in shares of Acrivon Therapeutics in the 4th quarter valued at about $14,092,000. BlackRock Inc. acquired a new position in shares of Acrivon Therapeutics in the 1st quarter valued at about $6,018,000. Geode Capital Management LLC acquired a new position in shares of Acrivon Therapeutics in the 1st quarter valued at about $2,226,000. State Street Corp acquired a new position in shares of Acrivon Therapeutics in the 1st quarter valued at about $1,083,000. Finally, Vanguard Group Inc. lifted its stake in shares of Acrivon Therapeutics by 16.2% in the 3rd quarter. Vanguard Group Inc. now owns 468,407 shares of the company's stock valued at $4,478,000 after purchasing an additional 65,132 shares during the period. Institutional investors own 71.62% of the company's stock.

Acrivon Therapeutics Company Profile

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.