Acrivon Therapeutics (NASDAQ:ACRV) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Acrivon Therapeutics (NASDAQ:ACRV) from a hold rating to a sell rating in a research report released on Sunday morning.

ACRV has been the topic of a number of other reports. HC Wainwright reiterated a “buy” rating and issued a $19.00 target price on shares of Acrivon Therapeutics in a report on Tuesday, November 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Acrivon Therapeutics in a research report on Monday, December 29th. Finally, Piper Sandler upped their price target on Acrivon Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Friday, January 9th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Acrivon Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $11.67.

Acrivon Therapeutics Stock Up 9.2%

NASDAQ:ACRV opened at $1.67 on Friday. The business’s 50-day moving average price is $1.91 and its 200 day moving average price is $1.92. Acrivon Therapeutics has a 52-week low of $1.05 and a 52-week high of $5.75. The firm has a market cap of $52.71 million, a P/E ratio of -0.78 and a beta of 1.79.

Insiders Place Their Bets

In other news, CEO Peter Blume-Jensen bought 49,000 shares of the business’s stock in a transaction on Wednesday, January 14th. The shares were bought at an average cost of $1.68 per share, with a total value of $82,320.00. Following the purchase, the chief executive officer directly owned 2,095,771 shares in the company, valued at $3,520,895.28. This trade represents a 2.39% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have purchased 67,832 shares of company stock worth $114,534. Insiders own 8.50% of the company’s stock.

Institutional Trading of Acrivon Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Quadrature Capital Ltd acquired a new position in Acrivon Therapeutics during the second quarter valued at $26,000. Focus Partners Wealth purchased a new position in Acrivon Therapeutics during the 3rd quarter valued at about $36,000. Schonfeld Strategic Advisors LLC purchased a new position in Acrivon Therapeutics during the 4th quarter valued at about $40,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Acrivon Therapeutics in the 4th quarter valued at about $44,000. Finally, Invesco Ltd. purchased a new stake in shares of Acrivon Therapeutics in the first quarter worth approximately $72,000. Institutional investors and hedge funds own 71.62% of the company’s stock.

About Acrivon Therapeutics

Acrivon Therapeutics (NASDAQ:ACRV) is a clinical-stage biotechnology company focused on the discovery and development of stapled peptide therapeutics for the treatment of RAS-driven cancers. Its proprietary platform is designed to enhance the stability, cell permeability and target specificity of peptide molecules, enabling the disruption of protein–protein interactions that are traditionally challenging to inhibit with small-molecule drugs or biologics.

The company’s lead development candidate is a hydrocarbon-stapled peptide selectively targeting the KRAS G12C mutation, currently in early clinical trials.