Geode Capital Management LLC Has $2.12 Million Stake in Acrivon Therapeutics, Inc. (NASDAQ:ACRV)

Geode Capital Management LLC trimmed its position in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 2.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 302,103 shares of the company’s stock after selling 6,290 shares during the quarter. Geode Capital Management LLC owned approximately 0.98% of Acrivon Therapeutics worth $2,115,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in Acrivon Therapeutics by 50.1% during the second quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company’s stock worth $212,000 after buying an additional 12,219 shares during the last quarter. Rhumbline Advisers grew its holdings in Acrivon Therapeutics by 48.9% during the 2nd quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock worth $94,000 after acquiring an additional 5,320 shares during the period. Dimensional Fund Advisors LP bought a new position in shares of Acrivon Therapeutics in the 2nd quarter worth about $58,000. XTX Topco Ltd bought a new position in shares of Acrivon Therapeutics in the 2nd quarter worth about $61,000. Finally, Sands Capital Ventures LLC lifted its stake in shares of Acrivon Therapeutics by 28.4% in the 2nd quarter. Sands Capital Ventures LLC now owns 2,122,605 shares of the company’s stock valued at $12,311,000 after purchasing an additional 470,000 shares during the period. 71.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ACRV has been the subject of several research analyst reports. LADENBURG THALM/SH SH upgraded shares of Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Monday, September 16th. BMO Capital Markets decreased their price target on shares of Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, November 14th. HC Wainwright reissued a “buy” rating and set a $22.00 price objective on shares of Acrivon Therapeutics in a research report on Thursday, November 14th. Finally, JMP Securities restated a “market outperform” rating and issued a $17.00 target price on shares of Acrivon Therapeutics in a research note on Monday, September 16th. Six 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 $23.67.

Acrivon Therapeutics Price Performance

ACRV opened at $6.10 on Thursday. The stock’s 50 day simple moving average is $6.99 and its 200 day simple moving average is $7.46. The firm has a market cap of $189.93 million, a price-to-earnings ratio of -2.26 and a beta of 0.77. Acrivon Therapeutics, Inc. has a 1 year low of $3.19 and a 1 year high of $11.90.

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.