Insider Buying: Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Major Shareholder Buys $20,000,500.00 in Stock

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) major shareholder Perceptive Advisors Llc purchased 2,353,000 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was purchased at an average price of $8.50 per share, for a total transaction of $20,000,500.00. Following the completion of the acquisition, the insider now owns 5,360,858 shares of the company’s stock, valued at $45,567,293. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Acrivon Therapeutics Stock Performance

ACRV opened at $10.34 on Thursday. The business’s 50-day simple moving average is $5.85 and its 200 day simple moving average is $5.27. The firm has a market capitalization of $234.10 million, a PE ratio of -3.79 and a beta of 1.94. Acrivon Therapeutics, Inc. has a 52-week low of $3.19 and a 52-week high of $14.30.

Analyst Ratings Changes

A number of brokerages have recently commented on ACRV. HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of Acrivon Therapeutics in a report on Thursday, March 28th. BMO Capital Markets reiterated an “outperform” rating and set a $18.00 target price on shares of Acrivon Therapeutics in a report on Monday, April 1st. LADENBURG THALM/SH SH dropped their target price on Acrivon Therapeutics from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Finally, JMP Securities reiterated a “market outperform” rating and set a $14.00 target price on shares of Acrivon Therapeutics in a report on Monday, April 1st. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Acrivon Therapeutics presently has an average rating of “Buy” and a consensus target price of $20.14.

Hedge Funds Weigh In On Acrivon Therapeutics

Institutional investors have recently bought and sold shares of the business. Exchange Traded Concepts LLC increased its position in Acrivon Therapeutics by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 13,289 shares of the company’s stock worth $65,000 after buying an additional 3,370 shares during the last quarter. Bridgeway Capital Management LLC acquired a new position in Acrivon Therapeutics during the fourth quarter worth approximately $157,000. Nuveen Asset Management LLC acquired a new position in Acrivon Therapeutics during the second quarter worth approximately $153,000. Barclays PLC increased its position in Acrivon Therapeutics by 73.6% during the fourth quarter. Barclays PLC now owns 24,484 shares of the company’s stock worth $121,000 after buying an additional 10,384 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in Acrivon Therapeutics during the first quarter worth approximately $84,000. Institutional investors and hedge funds own 71.62% of the company’s stock.

About Acrivon Therapeutics

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.