Acrivon Therapeutics (NASDAQ:ACRV) Issues Earnings Results, Hits Estimates

by · The Cerbat Gem

Acrivon Therapeutics (NASDAQ:ACRV – Get Free Report) posted its quarterly earnings results on Wednesday. The company reported ($0.49) EPS for the quarter, hitting analysts’ consensus estimates of ($0.49), FiscalAI reports.

Acrivon Therapeutics Stock Performance

NASDAQ:ACRV traded up $0.03 during trading hours on Wednesday, reaching $1.92. The stock had a trading volume of 160,478 shares, compared to its average volume of 1,421,584. Acrivon Therapeutics has a 52 week low of $1.05 and a 52 week high of $3.56. The company has a 50 day moving average price of $1.68 and a two-hundred day moving average price of $1.94. The stock has a market capitalization of $82.18 million, a PE ratio of -0.95 and a beta of 2.01.

Hedge Funds Weigh In On Acrivon Therapeutics

Large investors have recently modified their holdings of the stock. Jane Street Group LLC increased its position in shares of Acrivon Therapeutics by 18.3% during the 4th quarter. Jane Street Group LLC now owns 342,071 shares of the company’s stock valued at $824,000 after purchasing an additional 52,823 shares during the last quarter. Two Sigma Investments LP increased 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 purchasing an additional 138,033 shares during the last quarter. Geode Capital Management LLC increased its position 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 valued at $478,000 after purchasing an additional 6,190 shares during the last quarter. Goldman Sachs Group Inc. increased its position 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 valued at $288,000 after purchasing an additional 99,680 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Acrivon Therapeutics during the 2nd quarter valued at approximately $126,000. Institutional investors own 71.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on ACRV. Jefferies Financial Group reissued a “buy” rating on shares of Acrivon Therapeutics in a report on Monday, March 2nd. Wall Street Zen downgraded Acrivon Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Finally, Weiss Ratings raised Acrivon Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, April 27th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $11.67.

Read Our Latest Analysis on Acrivon Therapeutics

About Acrivon Therapeutics

(Get Free Report)

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.

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