Acrivon Therapeutics (NASDAQ:ACRV) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Acrivon Therapeutics (NASDAQ:ACRV) from a sell rating to a hold rating in a report issued on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings raised Acrivon Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, September 2nd. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $13.50.

Acrivon Therapeutics Stock Up 8.6%

ACRV opened at $2.01 on Friday. The stock has a market capitalization of $86.13 million, a price-to-earnings ratio of -1.07 and a beta of 1.92. The firm has a 50 day moving average price of $1.88 and a 200-day moving average price of $1.75. Acrivon Therapeutics has a twelve month low of $1.27 and a twelve month high of $3.56.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its earnings results on Wednesday, August 12th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.07. As a group, analysts expect that Acrivon Therapeutics will post -1.8 earnings per share for the current year.

Insider Buying and Selling

In other Acrivon Therapeutics news, CEO Peter Blume-Jensen sold 14,036 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $2.21, for a total value of $31,019.56. Following the transaction, the chief executive officer directly owned 2,230,052 shares in the company, valued at approximately $4,928,414.92. This trade represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 18,253 shares of company stock worth $38,850 over the last three months. 10.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Acrivon Therapeutics

An institutional investor recently bought a new position in Acrivon Therapeutics stock. Spark Investment Management LLC bought a new stake in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 28,300 shares of the company’s stock, valued at approximately $50,000. Spark Investment Management LLC owned approximately 0.07% of Acrivon Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 71.62% of the company’s stock.

Acrivon Therapeutics Company Profile

Acrivon Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for patients with cancer. The company uses its Acrivon Predictive Precision Oncology platform to identify drug candidates and match them with tumor characteristics that may predict treatment response.

Acrivon’s lead investigational product is ACR-368, also known as prexasertib, a small-molecule inhibitor designed to target checkpoint kinase 1 and related cancer cell-cycle mechanisms.