Acrivon Therapeutics (NASDAQ:ACRV) Shares Cross Above 200-Day Moving Average – What’s Next?

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $1.76 and traded as high as $1.79. Acrivon Therapeutics shares last traded at $1.79, with a volume of 132,239 shares trading hands.

Analyst Ratings Changes

Several research analysts have weighed in on ACRV shares. Weiss Ratings raised shares of Acrivon Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 9th. Wall Street Zen raised shares of Acrivon Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, October 5th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $13.50.

Acrivon Therapeutics Price Performance

The company has a fifty day moving average of $1.96 and a two-hundred day moving average of $1.76. The stock has a market capitalization of $76.71 million, a P/E ratio of -0.95 and a beta of 1.91.

Acrivon Therapeutics (NASDAQ:ACRV) last released its earnings results on Wednesday, August 12th. The company reported ($0.43) EPS 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 -1.76 EPS for the current fiscal year.

Insider Buying and Selling at Acrivon Therapeutics

In other news, CEO Peter Blume-Jensen sold 14,036 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was 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 directly owned 2,230,052 shares in the company, valued at approximately $4,928,414.92. The trade was a 0.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 18,487 shares of company stock valued at $39,370. 10.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Acrivon Therapeutics

A hedge fund recently bought a new position in Acrivon Therapeutics stock. Spark Investment Management LLC acquired a new position in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 28,300 shares of the company’s stock, valued at approximately $50,000. Spark Investment Management LLC owned about 0.07% of Acrivon Therapeutics at the end of the most recent reporting period. Institutional investors own 71.62% of the company’s stock.

About Acrivon Therapeutics

Acrivon Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision oncology medicines for patients with difficult-to-treat cancers. The company uses its proprietary OncoSignature platform to identify tumor characteristics that may predict a patient’s response to a particular therapy, with the goal of matching treatments to the patients most likely to benefit.

Acrivon’s lead investigational product is ACR-368, an oral small-molecule therapy designed to target cell-cycle checkpoint mechanisms that cancer cells rely on for survival.