Acrivon Therapeutics (NASDAQ:ACRV) Issues Earnings Results

Acrivon Therapeutics (NASDAQ:ACRV) announced its earnings results on Wednesday. The company reported ($0.49) EPS for the quarter, hitting the consensus estimate of ($0.49), FiscalAI reports.

Acrivon Therapeutics Trading Up 1.6%

NASDAQ:ACRV traded up $0.03 on Wednesday, reaching $1.92. 159,168 shares of the stock traded hands, compared to its average volume of 1,421,584. Acrivon Therapeutics has a 1-year low of $1.05 and a 1-year high of $3.56. The company’s 50 day moving average is $1.68 and its 200-day moving average is $1.94. The firm has a market capitalization of $82.18 million, a price-to-earnings ratio of -0.95 and a beta of 2.01.

Analysts Set New Price Targets

A number of research analysts have commented on ACRV shares. Wall Street Zen lowered Acrivon Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, March 1st. Jefferies Financial Group restated a “buy” rating on shares of Acrivon Therapeutics in a research note on Monday, March 2nd. Finally, Weiss Ratings upgraded shares of Acrivon Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, April 27th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Acrivon Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.67.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Jane Street Group LLC boosted its holdings in 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 acquiring an additional 52,823 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Acrivon Therapeutics by 504.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 119,422 shares of the company’s stock worth $288,000 after acquiring an additional 99,680 shares in the last quarter. Geode Capital Management LLC increased its stake in Acrivon Therapeutics by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 198,223 shares of the company’s stock valued at $478,000 after buying an additional 6,190 shares during the last quarter. UBS Group AG lifted its holdings in Acrivon Therapeutics by 150,057.8% during the third 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. Finally, Renaissance Technologies LLC raised its stake in shares of Acrivon Therapeutics by 1.7% during the 4th quarter. Renaissance Technologies LLC now owns 634,169 shares of the company’s stock worth $1,528,000 after purchasing an additional 10,769 shares during the period. 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.