Perceptive Advisors Llc Purchases 2,353,000 Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Stock

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) major shareholder Perceptive Advisors Llc acquired 2,353,000 shares of the firm’s stock in a transaction on Thursday, April 11th. The shares were bought at an average cost of $8.50 per share, with a total value of $20,000,500.00. Following the completion of the acquisition, the insider now directly owns 5,360,858 shares in the company, valued at approximately $45,567,293. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Acrivon Therapeutics Stock Down 1.5 %

ACRV opened at $9.47 on Wednesday. The business’s fifty day simple moving average is $5.71 and its 200 day simple moving average is $5.24. Acrivon Therapeutics, Inc. has a 52 week low of $3.19 and a 52 week high of $14.30. The stock has a market cap of $214.40 million, a PE ratio of -3.47 and a beta of 1.93.

Institutional Trading of Acrivon Therapeutics

Several institutional investors have recently added to or reduced their stakes in ACRV. New York State Common Retirement Fund purchased a new stake in Acrivon Therapeutics during the first quarter valued at about $28,000. Citigroup Inc. lifted its holdings in Acrivon Therapeutics by 1,281.2% in the second quarter. Citigroup Inc. now owns 2,790 shares of the company’s stock worth $36,000 after buying an additional 2,588 shares during the period. California State Teachers Retirement System purchased a new stake in Acrivon Therapeutics in the first quarter worth about $41,000. Wells Fargo & Company MN increased its stake in shares of Acrivon Therapeutics by 108.1% during the second quarter. Wells Fargo & Company MN now owns 3,305 shares of the company’s stock valued at $43,000 after purchasing an additional 1,717 shares in the last quarter. Finally, Barclays PLC bought a new position in shares of Acrivon Therapeutics during the fourth quarter valued at approximately $47,000. 71.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.