Acrivon Therapeutics (NASDAQ:ACRV) Issues Earnings Results

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

Acrivon Therapeutics Price Performance

Shares of Acrivon Therapeutics stock opened at $1.72 on Thursday. The stock has a market capitalization of $73.62 million, a price-to-earnings ratio of -0.86 and a beta of 1.85. The business has a 50-day moving average of $1.66 and a 200 day moving average of $1.68. Acrivon Therapeutics has a 12 month low of $1.25 and a 12 month high of $3.56.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Acrivon Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Acrivon Therapeutics has an average rating of “Moderate Buy” and an average target price of $11.67.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Acrivon Therapeutics during the 4th quarter worth $40,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Acrivon Therapeutics in the fourth quarter valued at approximately $44,000. Focus Partners Wealth purchased a new stake in Acrivon Therapeutics in the 3rd quarter valued at $36,000. Quadrature Capital Ltd acquired a new stake in shares of Acrivon Therapeutics during the fourth quarter worth about $50,000. Finally, Invesco Ltd. purchased a new position in shares of Acrivon Therapeutics in the 1st quarter valued at approximately $72,000. Institutional investors and hedge funds 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.