Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC reduced its stake in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 52.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 20,348 shares of the company’s stock after selling 22,516 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Acrivon Therapeutics were worth $142,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ACRV. Perceptive Advisors LLC grew its position in Acrivon Therapeutics by 78.2% during the 2nd quarter. Perceptive Advisors LLC now owns 5,360,858 shares of the company’s stock worth $31,093,000 after purchasing an additional 2,353,000 shares during the period. Sands Capital Ventures LLC grew its position in Acrivon Therapeutics by 28.4% during the 2nd quarter. Sands Capital Ventures LLC now owns 2,122,605 shares of the company’s stock worth $12,311,000 after purchasing an additional 470,000 shares during the period. Marshall Wace LLP grew its position in Acrivon Therapeutics by 58.8% during the 2nd quarter. Marshall Wace LLP now owns 948,866 shares of the company’s stock worth $5,503,000 after purchasing an additional 351,397 shares during the period. Baker BROS. Advisors LP acquired a new stake in Acrivon Therapeutics during the 1st quarter worth about $378,000. Finally, Vanguard Group Inc. grew its position in Acrivon Therapeutics by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 507,185 shares of the company’s stock worth $3,626,000 after purchasing an additional 31,208 shares during the period. 71.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. LADENBURG THALM/SH SH raised Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Monday, September 16th. JMP Securities restated a “market outperform” rating and set a $17.00 target price on shares of Acrivon Therapeutics in a research report on Monday, September 16th. BMO Capital Markets restated an “outperform” rating and set a $28.00 target price (up from $25.00) on shares of Acrivon Therapeutics in a research report on Monday, September 16th. Piper Sandler Companies restated a “buy” rating and set a $30.00 target price on shares of Acrivon Therapeutics in a research report on Friday, September 6th. Finally, HC Wainwright restated a “buy” rating and set a $22.00 target price on shares of Acrivon Therapeutics in a research report on Monday, September 16th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $23.83.

Acrivon Therapeutics Stock Performance

Shares of Acrivon Therapeutics stock opened at $8.05 on Wednesday. The firm has a market capitalization of $248.56 million, a PE ratio of -2.80 and a beta of 0.78. Acrivon Therapeutics, Inc. has a twelve month low of $3.19 and a twelve month high of $11.90. The firm’s 50-day moving average price is $7.98 and its 200 day moving average price is $7.92.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.08. On average, sell-side analysts predict that Acrivon Therapeutics, Inc. will post -2.4 EPS for the current fiscal year.

Acrivon Therapeutics Company Profile

Acrivon Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in developing oncology medicines for the patients whose tumors are predicted to be sensitive to each specific medicine by utilizing its proteomics-based patient responder identification platform. The company's Acrivon Predictive Precision Proteomics, a precision medicine platform enables the creation of drug specific proprietary OncoSignature companion diagnostics that are used to identify the patients to benefit from its drug candidates.