Acrivon Therapeutics (NASDAQ:ACRV) Trading Down 2.5% – Here’s Why

Acrivon Therapeutics, Inc. (NASDAQ:ACRV)’s share price traded down 2.5% on Thursday . The stock traded as low as $1.58 and last traded at $1.58. Approximately 312,567 shares were traded during trading, a decline of 11% from the average daily volume of 349,786 shares. The stock had previously closed at $1.62.

Analyst Ratings Changes

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

Acrivon Therapeutics Trading Down 2.5%

The firm has a fifty day moving average of $1.70 and a 200 day moving average of $1.81. The company has a market capitalization of $67.62 million, a P/E ratio of -0.79 and a beta of 1.89.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.49) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.49). Sell-side analysts anticipate that Acrivon Therapeutics, Inc. will post -1.92 EPS for the current fiscal year.

Institutional Trading of Acrivon Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACRV. Renaissance Technologies LLC increased its position in Acrivon Therapeutics by 19.6% in 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 in the last quarter. UBS Group AG lifted its position in Acrivon Therapeutics by 150,057.8% during the third quarter. UBS Group AG now owns 683,218 shares of the company’s stock valued at $1,237,000 after purchasing an additional 682,763 shares during the last quarter. Marshall Wace LLP grew its position in Acrivon Therapeutics by 231.4% in the fourth quarter. Marshall Wace LLP now owns 496,081 shares of the company’s stock worth $1,196,000 after acquiring an additional 346,366 shares in the last quarter. Jane Street Group LLC boosted its holdings 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 worth $824,000 after purchasing an additional 52,823 shares during the period. Finally, Two Sigma Investments LP increased its position in Acrivon Therapeutics by 76.2% during the third quarter. Two Sigma Investments LP now owns 319,205 shares of the company’s stock valued at $578,000 after acquiring an additional 138,033 shares during the last quarter. 71.62% of the stock is owned by hedge funds and other institutional investors.

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.