Acrivon Therapeutics’ (ACRV) Hold Rating Reaffirmed at Jones Trading

Jones Trading reaffirmed their hold rating on shares of Acrivon Therapeutics (NASDAQ:ACRV) in a report published on Friday,Benzinga reports.

A number of other research firms have also weighed in on ACRV. Oppenheimer lowered their price objective on shares of Acrivon Therapeutics from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Thursday. KeyCorp assumed coverage on Acrivon Therapeutics in a report on Friday, January 31st. They set an “overweight” rating on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Acrivon Therapeutics in a report on Wednesday, March 26th. Piper Sandler assumed coverage on Acrivon Therapeutics in a report on Monday, May 5th. They set an “overweight” rating and a $6.00 price objective on the stock. Finally, HC Wainwright dropped their price objective on Acrivon Therapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, March 26th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $17.71.

Acrivon Therapeutics Price Performance

Acrivon Therapeutics stock opened at $1.15 on Friday. The business has a 50 day simple moving average of $2.36 and a 200-day simple moving average of $4.98. Acrivon Therapeutics has a 12 month low of $1.09 and a 12 month high of $10.16. The stock has a market capitalization of $36.06 million, a PE ratio of -0.43 and a beta of 1.88.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.06. As a group, equities research analysts anticipate that Acrivon Therapeutics will post -2.49 EPS for the current year.

Insider Buying and Selling at Acrivon Therapeutics

In other Acrivon Therapeutics news, major shareholder Perceptive Advisors Llc sold 437,881 shares of the company’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $1.41, for a total value of $617,412.21. Following the sale, the insider now owns 3,403,025 shares of the company’s stock, valued at approximately $4,798,265.25. This represents a 11.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 1,707,833 shares of company stock valued at $3,009,858. Insiders own 11.90% of the company’s stock.

Institutional Trading of Acrivon Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Acrivon Therapeutics in the fourth quarter valued at $40,000. Wealthedge Investment Advisors LLC purchased a new stake in shares of Acrivon Therapeutics in the fourth quarter valued at $65,000. Corton Capital Inc. purchased a new stake in shares of Acrivon Therapeutics in the fourth quarter valued at $73,000. Nuveen LLC purchased a new stake in shares of Acrivon Therapeutics in the first quarter valued at $27,000. Finally, American Century Companies Inc. lifted its position in shares of Acrivon Therapeutics by 14.2% in the fourth quarter. American Century Companies Inc. now owns 17,588 shares of the company’s stock valued at $106,000 after acquiring an additional 2,186 shares in the last quarter. 71.62% of the stock is currently owned by hedge funds and other institutional investors.

Acrivon Therapeutics Company Profile

Acrivon Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in developing oncology medicines for the patients whose tumors are predicted to be sensitive to each specific medicine by utilizing its proteomics-based patient responder identification platform. The company's Acrivon Predictive Precision Proteomics, a precision medicine platform enables the creation of drug specific proprietary OncoSignature companion diagnostics that are used to identify the patients to benefit from its drug candidates.