Perceptive Advisors Llc Buys 2,353,000 Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Stock

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) major shareholder Perceptive Advisors Llc bought 2,353,000 shares of the stock in a transaction that occurred on Thursday, April 11th. The shares were bought at an average cost of $8.50 per share, with a total value of $20,000,500.00. Following the completion of the transaction, the insider now owns 5,360,858 shares in the company, valued at $45,567,293. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Acrivon Therapeutics Price Performance

Shares of ACRV opened at $10.34 on Thursday. The stock has a 50-day moving average of $5.85 and a 200-day moving average of $5.27. The company has a market cap of $234.10 million, a PE ratio of -3.79 and a beta of 1.94. Acrivon Therapeutics, Inc. has a one year low of $3.19 and a one year high of $14.30.

Analyst Upgrades and Downgrades

ACRV has been the subject of several analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $20.00 target price on shares of Acrivon Therapeutics in a research report on Thursday, March 28th. BMO Capital Markets reiterated an “outperform” rating and set a $18.00 price target on shares of Acrivon Therapeutics in a report on Monday, April 1st. JMP Securities reiterated a “market outperform” rating and set a $14.00 price target on shares of Acrivon Therapeutics in a report on Monday, April 1st. Finally, LADENBURG THALM/SH SH decreased their price target on Acrivon Therapeutics from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, April 5th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $20.14.

Institutional Trading of Acrivon Therapeutics

Large investors have recently made changes to their positions in the company. New York State Common Retirement Fund acquired a new stake in shares of Acrivon Therapeutics in the 1st quarter valued at about $28,000. Citigroup Inc. boosted its stake in Acrivon Therapeutics by 1,281.2% during the 2nd quarter. Citigroup Inc. now owns 2,790 shares of the company’s stock valued at $36,000 after purchasing an additional 2,588 shares during the last quarter. California State Teachers Retirement System bought a new stake in Acrivon Therapeutics during the 1st quarter worth approximately $41,000. Wells Fargo & Company MN increased its holdings in Acrivon Therapeutics by 108.1% during the 2nd quarter. Wells Fargo & Company MN now owns 3,305 shares of the company’s stock worth $43,000 after purchasing an additional 1,717 shares in the last quarter. Finally, Barclays PLC bought a new stake in Acrivon Therapeutics during the 4th quarter worth approximately $47,000. 71.62% of the stock is currently owned by institutional investors and hedge funds.

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.