Analysts Set Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Price Target at $11.67

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $11.6667.

ACRV has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Acrivon Therapeutics in a research report on Monday, December 29th. Wall Street Zen downgraded shares of Acrivon Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday. Piper Sandler raised their price objective on shares of Acrivon Therapeutics from $6.00 to $8.00 and gave the stock an “overweight” rating in a report on Friday, January 9th. 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.

Acrivon Therapeutics Stock Performance

NASDAQ:ACRV opened at $1.51 on Tuesday. Acrivon Therapeutics has a 52 week low of $1.05 and a 52 week high of $5.75. The firm has a 50-day moving average price of $1.94 and a two-hundred day moving average price of $1.91. The firm has a market cap of $47.66 million, a price-to-earnings ratio of -0.71 and a beta of 1.74.

Insider Buying and Selling

In other news, CEO Peter Blume-Jensen acquired 49,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The shares were acquired at an average price of $1.68 per share, for a total transaction of $82,320.00. Following the completion of the purchase, the chief executive officer owned 2,095,771 shares in the company, valued at approximately $3,520,895.28. This trade represents a 2.39% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders purchased a total of 67,832 shares of company stock valued at $114,534 in the last quarter. 11.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Acrivon Therapeutics

Several hedge funds have recently made changes to their positions in ACRV. UBS Group AG grew its stake in shares of Acrivon Therapeutics by 150,057.8% during the 3rd quarter. UBS Group AG now owns 683,218 shares of the company’s stock worth $1,237,000 after acquiring an additional 682,763 shares during the period. Renaissance Technologies LLC lifted its holdings in Acrivon Therapeutics by 1.7% during the fourth quarter. Renaissance Technologies LLC now owns 634,169 shares of the company’s stock valued at $1,528,000 after purchasing an additional 10,769 shares during the last quarter. Marshall Wace LLP boosted its position in Acrivon Therapeutics by 231.4% during the fourth quarter. Marshall Wace LLP now owns 496,081 shares of the company’s stock worth $1,196,000 after purchasing an additional 346,366 shares during the period. Jane Street Group LLC increased its stake in shares of Acrivon Therapeutics by 18.3% in the fourth quarter. Jane Street Group LLC now owns 342,071 shares of the company’s stock worth $824,000 after purchasing an additional 52,823 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in shares of Acrivon Therapeutics by 76.2% in the third quarter. Two Sigma Investments LP now owns 319,205 shares of the company’s stock worth $578,000 after purchasing an additional 138,033 shares in the last quarter. 71.62% of the stock is currently owned by institutional investors.

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.