Acrivon Therapeutics (NASDAQ:ACRV) Posts Quarterly Earnings Results

Acrivon Therapeutics reported a quarterly EPS of ($0.47), surpassing analysts' expectations of ($0.57). Despite this, the stock fell 9.2% to $2.07. The company has a market cap of $65.12 million and a consensus rating of 'Moderate Buy' with a target price of $15.00. Institutional investors own 71.62% of the stock. Acrivon is a clinical-stage biopharmaceutical firm focusing on oncology medicines using its proteomics-based platform.

Acrivon Therapeutics (NASDAQ:ACRV - Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.47) EPS for the quarter, beating analysts' consensus estimates of ($0.57) by $0.10, Zacks reports.

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Acrivon Therapeutics Stock Down 9.2%

Shares of ACRV stock traded down $0.21 during trading on Thursday, hitting $2.07. The company had a trading volume of 392,882 shares, compared to its average volume of 771,710. The stock's 50-day moving average is $1.82 and its two-hundred day moving average is $1.47. The stock has a market capitalization of $65.12 million, a price-to-earnings ratio of -0.92 and a beta of 1.82. Acrivon Therapeutics has a 52 week low of $1.05 and a 52 week high of $8.35.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Acrivon Therapeutics in a report on Wednesday, October 8th. Oppenheimer decreased their price objective on Acrivon Therapeutics from $9.00 to $8.00 and set an "outperform" rating on the stock in a research note on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.00.

Read Our Latest Analysis on ACRV

Institutional Investors Weigh In On Acrivon Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. UBS Group AG boosted its holdings in shares of Acrivon Therapeutics by 150,057.8% in the 3rd quarter. UBS Group AG now owns 683,218 shares of the company's stock worth $1,237,000 after purchasing an additional 682,763 shares in the last quarter. Jane Street Group LLC bought a new stake in Acrivon Therapeutics in the 2nd quarter worth approximately $371,000. XTX Topco Ltd purchased a new stake in Acrivon Therapeutics in the second quarter worth approximately $126,000. Finally, Invesco Ltd. purchased a new stake in Acrivon Therapeutics in the first quarter worth approximately $72,000. Institutional investors own 71.62% of the company's stock.

About Acrivon Therapeutics

(Get Free Report)

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.

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