Peter Blume-Jensen Sells 14,036 Shares of Acrivon Therapeutics (NASDAQ:ACRV) Stock

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) CEO Peter Blume-Jensen sold 14,036 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $2.21, for a total value of $31,019.56. Following the completion of the sale, the chief executive officer owned 2,230,052 shares in the company, valued at approximately $4,928,414.92. This trade represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Peter Blume-Jensen also recently made the following trade(s):

• On Tuesday, August 18th, Peter Blume-Jensen sold 484 shares of Acrivon Therapeutics stock. The stock was sold at an average price of $2.01, for a total value of $972.84.
• On Tuesday, August 18th, Peter Blume-Jensen sold 1,229 shares of Acrivon Therapeutics stock. The stock was sold at an average price of $2.01, for a total value of $2,470.29.

Acrivon Therapeutics Stock Performance

Shares of Acrivon Therapeutics stock opened at $2.06 on Friday. The business’s 50 day simple moving average is $1.82 and its 200 day simple moving average is $1.70. Acrivon Therapeutics, Inc. has a 52-week low of $1.27 and a 52-week high of $3.56. The firm has a market cap of $88.27 million, a PE ratio of -1.10 and a beta of 1.85.

Acrivon Therapeutics (NASDAQ:ACRV) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.07. As a group, equities research analysts predict that Acrivon Therapeutics, Inc. will post -1.8 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. UBS Group AG raised 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 purchasing an additional 682,763 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Acrivon Therapeutics by 231.4% in the fourth quarter. Marshall Wace LLP now owns 496,081 shares of the company’s stock valued at $1,196,000 after buying an additional 346,366 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Acrivon Therapeutics in the second quarter valued at $371,000. Two Sigma Investments LP increased its holdings 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 buying an additional 138,033 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Acrivon Therapeutics by 19.6% during the first quarter. Renaissance Technologies LLC now owns 758,440 shares of the company’s stock worth $1,054,000 after buying an additional 124,271 shares during the last quarter. Institutional investors and hedge funds own 71.62% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Acrivon Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $13.50.

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.