Acrivon Therapeutics (NASDAQ:ACRV) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Acrivon Therapeutics (NASDAQ:ACRV) from a hold rating to a sell rating in a research note published on Sunday,Wall Street Zen reports.

Separately, Weiss Ratings cut shares of Acrivon Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, September 24th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Acrivon Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $13.50.

Acrivon Therapeutics Stock Performance

Shares of ACRV opened at $2.08 on Friday. Acrivon Therapeutics has a 52-week low of $1.27 and a 52-week high of $3.56. The stock’s 50-day simple moving average is $1.91 and its 200 day simple moving average is $1.77. The stock has a market capitalization of $89.13 million, a price-to-earnings ratio of -1.11 and a beta of 1.92.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its earnings results on Wednesday, August 12th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.07. On average, research analysts forecast that Acrivon Therapeutics will post -1.76 earnings per share for the current fiscal year.

Insider Transactions at Acrivon Therapeutics

In related news, CEO Peter Blume-Jensen sold 14,036 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $2.21, for a total transaction of $31,019.56. Following the completion of the transaction, the chief executive officer directly owned 2,230,052 shares in the company, valued at $4,928,414.92. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 18,253 shares of company stock worth $38,850 over the last three months. 10.50% of the stock is currently owned by company insiders.

Institutional Trading of Acrivon Therapeutics

A hedge fund recently bought a new stake in Acrivon Therapeutics stock. Spark Investment Management LLC acquired a new position in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 28,300 shares of the company’s stock, valued at approximately $50,000. Spark Investment Management LLC owned approximately 0.07% of Acrivon Therapeutics at the end of the most recent quarter. 71.62% of the stock is currently owned by hedge funds and other institutional investors.

Acrivon Therapeutics Company Profile

Acrivon Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for patients with cancer. The company uses its Acrivon Predictive Precision Oncology platform to identify drug candidates and match them with tumor characteristics that may predict treatment response.

Acrivon’s lead investigational product is ACR-368, also known as prexasertib, a small-molecule inhibitor designed to target checkpoint kinase 1 and related cancer cell-cycle mechanisms.