Acrivon Therapeutics (NASDAQ:ACRV) Shares Down 2.5% – Should You Sell?

Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) dropped 2.5% on Thursday . The company traded as low as $1.58 and last traded at $1.58. 312,567 shares traded hands during mid-day trading, a decline of 11% from the average session volume of 349,786 shares. The stock had previously closed at $1.62.

Wall Street Analysts Forecast Growth

ACRV has been the topic of a number of research reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of Acrivon Therapeutics in a research report on Monday, March 2nd. Wall Street Zen cut shares of Acrivon Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st. Finally, Weiss Ratings raised Acrivon Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.67.

Acrivon Therapeutics Price Performance

The company has a market capitalization of $67.62 million, a PE ratio of -0.79 and a beta of 1.89. The firm’s fifty day simple moving average is $1.70 and its 200 day simple moving average is $1.81.

Acrivon Therapeutics (NASDAQ:ACRV) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.49) earnings per share for the quarter, meeting the consensus estimate of ($0.49). On average, equities research analysts anticipate that Acrivon Therapeutics, Inc. will post -1.92 EPS for the current fiscal year.

Institutional Trading of Acrivon Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in ACRV. Renaissance Technologies LLC increased its holdings in Acrivon Therapeutics by 19.6% in the 1st quarter. Renaissance Technologies LLC now owns 758,440 shares of the company’s stock worth $1,054,000 after acquiring an additional 124,271 shares in the last quarter. UBS Group AG lifted its stake in Acrivon Therapeutics by 150,057.8% in the 3rd quarter. UBS Group AG now owns 683,218 shares of the company’s stock worth $1,237,000 after purchasing an additional 682,763 shares in the last quarter. Marshall Wace LLP lifted 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 buying an additional 346,366 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Acrivon Therapeutics by 18.3% during the 4th 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 during the period. Finally, Two Sigma Investments LP raised its stake in Acrivon Therapeutics by 76.2% during 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 during the period. 71.62% of the stock is currently owned by hedge funds and other institutional investors.

Acrivon Therapeutics Company Profile

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.