Acrivon Therapeutics (NASDAQ:ACRV) Announces Earnings Results

Acrivon Therapeutics (NASDAQ:ACRV) issued its earnings results on Wednesday. The company reported ($0.49) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.49), FiscalAI reports.

Acrivon Therapeutics Stock Performance

Shares of NASDAQ:ACRV traded up $0.07 during trading hours on Thursday, hitting $1.99. The stock had a trading volume of 416,768 shares, compared to its average volume of 1,410,341. The stock’s fifty day simple moving average is $1.69 and its 200 day simple moving average is $1.94. Acrivon Therapeutics has a 1-year low of $1.05 and a 1-year high of $3.56. The firm has a market capitalization of $84.96 million, a price-to-earnings ratio of -0.99 and a beta of 2.01.

Wall Street Analysts Forecast Growth

ACRV has been the topic of a number of recent research reports. Weiss Ratings raised shares of Acrivon Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, April 27th. Wall Street Zen lowered shares of Acrivon Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Finally, Jefferies Financial Group restated a “buy” rating on shares of Acrivon Therapeutics in a research note on Monday, March 2nd. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Acrivon Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.67.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP increased its stake in shares of Acrivon Therapeutics by 231.4% during the fourth quarter. Marshall Wace LLP now owns 496,081 shares of the company’s stock valued at $1,196,000 after acquiring an additional 346,366 shares during the period. Jane Street Group LLC increased its stake in shares of Acrivon Therapeutics by 18.3% during the fourth quarter. Jane Street Group LLC now owns 342,071 shares of the company’s stock valued at $824,000 after acquiring an additional 52,823 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Acrivon Therapeutics by 504.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 119,422 shares of the company’s stock valued at $288,000 after acquiring an additional 99,680 shares during the period. Geode Capital Management LLC increased its stake in shares of Acrivon Therapeutics by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 198,223 shares of the company’s stock valued at $478,000 after acquiring an additional 6,190 shares during the period. Finally, Two Sigma Investments LP increased its stake in shares of 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 period. Institutional investors and hedge funds own 71.62% of the company’s stock.

Acrivon Therapeutics Company Profile

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.