Insider Selling: Acrivon Therapeutics (NASDAQ:ACRV) CEO Sells $31,019.56 in Stock

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) CEO Peter Blume-Jensen sold 14,036 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $2.21, for a total transaction of $31,019.56. Following the sale, the chief executive officer directly owned 2,230,052 shares in the company, valued at $4,928,414.92. This trade represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Peter Blume-Jensen also recently made the following trade(s):

• On Tuesday, August 18th, Peter Blume-Jensen sold 484 shares of Acrivon Therapeutics stock. The shares were sold at an average price of $2.01, for a total value of $972.84.
• On Tuesday, August 18th, Peter Blume-Jensen sold 1,229 shares of Acrivon Therapeutics stock. The shares were sold at an average price of $2.01, for a total value of $2,470.29.

Acrivon Therapeutics Stock Up 3.4%

Shares of NASDAQ:ACRV traded up $0.07 during midday trading on Thursday, reaching $2.15. The company had a trading volume of 188,254 shares, compared to its average volume of 975,386. Acrivon Therapeutics, Inc. has a 1-year low of $1.27 and a 1-year high of $3.56. The stock has a market cap of $92.13 million, a PE ratio of -1.14 and a beta of 1.85. The business’s 50 day moving average price is $1.79 and its 200 day moving average price is $1.70.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.07. On average, research analysts expect that Acrivon Therapeutics, Inc. will post -1.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Acrivon Therapeutics

Institutional investors have recently bought and sold shares of the business. Jane Street Group LLC lifted its position in shares of Acrivon Therapeutics by 18.3% in the fourth quarter. Jane Street Group LLC now owns 342,071 shares of the company’s stock valued at $824,000 after buying an additional 52,823 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Acrivon Therapeutics by 504.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 119,422 shares of the company’s stock valued at $288,000 after acquiring an additional 99,680 shares during the period. Geode Capital Management LLC lifted its holdings in Acrivon Therapeutics by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 198,223 shares of the company’s stock valued at $478,000 after purchasing an additional 6,190 shares during the last quarter. Algert Global LLC acquired a new stake in Acrivon Therapeutics during the 3rd quarter valued at $81,000. Finally, Two Sigma Investments LP boosted its position in Acrivon Therapeutics by 76.2% during the third quarter. Two Sigma Investments LP now owns 319,205 shares of the company’s stock worth $578,000 after purchasing an additional 138,033 shares during the period. Institutional investors and hedge funds own 71.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Acrivon Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.50.

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.