Acrivon Therapeutics (NASDAQ:ACRV) Releases Earnings Results, Beats Expectations By $0.07 EPS

Acrivon Therapeutics (NASDAQ:ACRV) released its quarterly earnings results on Wednesday. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.07, FiscalAI reports.

Acrivon Therapeutics Trading Up 3.2%

NASDAQ:ACRV opened at $1.91 on Friday. Acrivon Therapeutics has a 12-month low of $1.27 and a 12-month high of $3.56. The firm has a market cap of $81.75 million, a price-to-earnings ratio of -1.02 and a beta of 1.85. The company’s 50-day moving average is $1.67 and its two-hundred day moving average is $1.68.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Acrivon Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday. 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 stock presently has an average rating of “Moderate Buy” and an average target price of $13.50.

Hedge Funds Weigh In On Acrivon Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC grew its stake in Acrivon Therapeutics by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 198,223 shares of the company’s stock worth $478,000 after acquiring an additional 6,190 shares during the period. Renaissance Technologies LLC grew its holdings in Acrivon Therapeutics by 1.7% in the 4th quarter. Renaissance Technologies LLC now owns 634,169 shares of the company’s stock valued at $1,528,000 after buying an additional 10,769 shares during the period. Schonfeld Strategic Advisors LLC acquired a new position in shares of Acrivon Therapeutics during the 4th quarter valued at about $40,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Acrivon Therapeutics during the 4th quarter worth about $44,000. Finally, Focus Partners Wealth purchased a new position in shares of Acrivon Therapeutics during the 3rd quarter worth about $36,000. Hedge funds and other institutional investors 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.