Acrivon Therapeutics (NASDAQ:ACRV) Releases Quarterly Earnings Results, Hits Estimates

Acrivon Therapeutics (NASDAQ:ACRV) released its quarterly earnings data on Wednesday. The company reported ($0.49) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.49), FiscalAI reports.

Acrivon Therapeutics Price Performance

ACRV stock traded up $0.03 during trading on Wednesday, hitting $1.92. 159,168 shares of the stock traded hands, compared to its average volume of 1,421,584. The stock has a market cap of $82.18 million, a price-to-earnings ratio of -0.95 and a beta of 2.01. The firm’s 50 day moving average is $1.68 and its two-hundred day moving average is $1.94. Acrivon Therapeutics has a 1 year low of $1.05 and a 1 year high of $3.56.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC lifted its holdings in shares of Acrivon Therapeutics by 18.3% during the 4th 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 period. Two Sigma Investments LP increased its holdings in 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 acquiring an additional 138,033 shares in the last quarter. Geode Capital Management LLC boosted its holdings 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 buying an additional 6,190 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Acrivon Therapeutics by 504.9% in the fourth 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 in the last quarter. Finally, XTX Topco Ltd purchased a new position in Acrivon Therapeutics in the 2nd quarter worth approximately $126,000. Institutional investors own 71.62% of the company’s stock.

Wall Street Analyst Weigh In

ACRV has been the subject of a number of recent analyst reports. Weiss Ratings raised Acrivon Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, April 27th. Wall Street Zen downgraded Acrivon Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st. Finally, Jefferies Financial Group restated a “buy” rating on shares of Acrivon Therapeutics in a report on Monday, March 2nd. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.67.

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.