Wall Street Zen Downgrades Acrivon Therapeutics (NASDAQ:ACRV) to Sell

Acrivon Therapeutics (NASDAQ:ACRV) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

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

Acrivon Therapeutics Stock Performance

Acrivon Therapeutics stock opened at $1.75 on Friday. Acrivon Therapeutics has a 52 week low of $1.05 and a 52 week high of $8.00. The firm has a market capitalization of $55.23 million, a PE ratio of -0.82 and a beta of 1.73. The business’s 50-day simple moving average is $2.33 and its 200-day simple moving average is $1.81.

Acrivon Therapeutics (NASDAQ:ACRV) last released its earnings results on Thursday, November 13th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.10. Research analysts forecast that Acrivon Therapeutics will post -2.49 earnings per share for the current year.

Institutional Trading of Acrivon Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS Group AG raised its position in Acrivon Therapeutics by 150,057.8% in the third quarter. UBS Group AG now owns 683,218 shares of the company’s stock worth $1,237,000 after purchasing an additional 682,763 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of Acrivon Therapeutics by 76.2% in the 3rd quarter. Two Sigma Investments LP now owns 319,205 shares of the company’s stock worth $578,000 after buying an additional 138,033 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Acrivon Therapeutics in the 2nd quarter worth approximately $371,000. XTX Topco Ltd bought a new position in shares of Acrivon Therapeutics during the 2nd quarter worth approximately $126,000. Finally, Algert Global LLC acquired a new stake in Acrivon Therapeutics in the 3rd quarter valued at $81,000. 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.