Acrivon Therapeutics (NASDAQ:ACRV) Posts Earnings Results, Meets Estimates

Acrivon Therapeutics (NASDAQ:ACRV) released its earnings results on Thursday. The company reported ($0.49) EPS for the quarter, meeting analysts’ consensus estimates of ($0.49), FiscalAI reports.

Acrivon Therapeutics Stock Performance

Shares of NASDAQ:ACRV traded down $0.02 during midday trading on Friday, reaching $1.69. 30,696 shares of the company’s stock traded hands, compared to its average volume of 1,893,790. The company has a market cap of $53.18 million, a price-to-earnings ratio of -0.79 and a beta of 1.79. The stock has a 50 day moving average of $1.71 and a 200 day moving average of $1.94. Acrivon Therapeutics has a one year low of $1.05 and a one year high of $5.65.

Wall Street Analyst Weigh In

ACRV has been the topic of a number of recent research reports. HC Wainwright reiterated a “buy” rating and set a $19.00 price target on shares of Acrivon Therapeutics in a research report on Tuesday, November 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Acrivon Therapeutics in a report on Monday, December 29th. Jefferies Financial Group restated a “buy” rating on shares of Acrivon Therapeutics in a report on Monday, March 2nd. Wall Street Zen lowered Acrivon Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st. Finally, Piper Sandler increased their price target on shares of Acrivon Therapeutics from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Friday, January 9th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.67.

Insiders Place Their Bets

In related news, CEO Peter Blume-Jensen bought 49,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The shares were bought at an average price of $1.68 per share, for a total transaction of $82,320.00. Following the completion of the acquisition, the chief executive officer owned 2,095,771 shares of the company’s stock, valued at $3,520,895.28. This trade represents a 2.39% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have purchased a total of 67,832 shares of company stock worth $114,534 in the last 90 days. 11.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ACRV. Focus Partners Wealth purchased a new position in shares of Acrivon Therapeutics in the third quarter worth approximately $36,000. Schonfeld Strategic Advisors LLC bought a new position in Acrivon Therapeutics in the 4th quarter worth $40,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of Acrivon Therapeutics in the fourth quarter worth about $44,000. Quadrature Capital Ltd purchased a new stake in Acrivon Therapeutics during the 4th quarter valued at approximately $50,000. Finally, Invesco Ltd. purchased a new position in Acrivon Therapeutics during the first quarter valued at $72,000. 71.62% of the stock is owned by hedge funds and other institutional investors.

Acrivon Therapeutics Company Profile

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.