Acrivon Therapeutics (NASDAQ:ACRV) Shares Up 8.8% - Time to Buy?

Key Points

• Acrivon Therapeutics shares rose 8.8% to $1.85, with trading volume 84% above the average session level. The company has a market capitalization of approximately $79.3 million.
• Analysts maintain a “Moderate Buy” consensus, with three Buy ratings and one Sell rating and an average price target of $13.50. The company’s latest quarterly loss of $0.43 per share was better than the expected $0.50 loss.
• Insiders have recently sold shares, including the CEO’s 14,036-share sale to cover tax withholding, 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, Inc. (NASDAQ:ACRV - Get Free Report)'s share price shot up 8.8% during mid-day trading on Friday . The stock traded as high as $1.8951 and last traded at $1.85. Approximately 477,361 shares changed hands during trading, an increase of 84% from the average session volume of 259,535 shares. The stock had previously closed at $1.70.

Wall Street Analysts Forecast Growth

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 issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $13.50.

Acrivon Therapeutics Stock Up 8.8%

The company has a market capitalization of $79.27 million, a P/E ratio of -0.98 and a beta of 1.92. The business has a 50 day moving average of $1.88 and a 200 day moving average of $1.74.

Acrivon Therapeutics (NASDAQ:ACRV - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.50) by $0.07. On average, research analysts anticipate that Acrivon Therapeutics, Inc. will post -1.8 EPS for the current year.

Insider Buying and Selling at Acrivon Therapeutics

In related news, CEO Peter Blume-Jensen sold 14,036 shares of the business'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 in the company, valued at approximately $4,928,414.92. The trade was a 0.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 18,253 shares of company stock valued at $38,850 over the last ninety days. Company insiders own 10.50% of the company's stock.

Hedge Funds Weigh In On Acrivon Therapeutics

An institutional investor recently bought a new stake in Acrivon Therapeutics stock. Spark Investment Management LLC purchased a new position in Acrivon Therapeutics, Inc. (NASDAQ:ACRV - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 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 SEC filing. Hedge funds and other 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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