Acrivon Therapeutics (NASDAQ:ACRV) Releases Earnings Results, Beats Expectations By $0.06 EPS

Acrivon Therapeutics (NASDAQ:ACRV) posted its quarterly earnings results on Wednesday. The company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.06, FiscalAI reports.

Acrivon Therapeutics Trading Down 0.6%

NASDAQ ACRV traded down $0.01 on Wednesday, reaching $1.72. 148,770 shares of the company were exchanged, compared to its average volume of 1,010,374. The business’s fifty day moving average price is $1.66 and its 200 day moving average price is $1.68. The stock has a market capitalization of $73.62 million, a P/E ratio of -0.86 and a beta of 1.85. Acrivon Therapeutics has a fifty-two week low of $1.25 and a fifty-two week high of $3.56.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of Acrivon Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Acrivon Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.67.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Marshall Wace LLP raised its stake 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 grew its stake in shares of Acrivon Therapeutics by 18.3% in the 4th quarter. Jane Street Group LLC now owns 342,071 shares of the company’s stock valued at $824,000 after buying an additional 52,823 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Acrivon Therapeutics by 504.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 119,422 shares of the company’s stock worth $288,000 after buying an additional 99,680 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Acrivon Therapeutics by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 198,223 shares of the company’s stock worth $478,000 after buying an additional 6,190 shares during the last quarter. Finally, Two Sigma Investments LP raised its position in shares of Acrivon Therapeutics by 76.2% during the 3rd quarter. Two Sigma Investments LP now owns 319,205 shares of the company’s stock valued at $578,000 after buying an additional 138,033 shares during the period. Hedge funds and other institutional investors 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.