Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Position Raised by Sands Capital Ventures LLC

Sands Capital Ventures LLC grew its position in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 28.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,122,605 shares of the company’s stock after purchasing an additional 470,000 shares during the quarter. Acrivon Therapeutics makes up about 4.1% of Sands Capital Ventures LLC’s portfolio, making the stock its 6th biggest holding. Sands Capital Ventures LLC owned 6.87% of Acrivon Therapeutics worth $12,311,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ACRV. XTX Topco Ltd acquired a new position in shares of Acrivon Therapeutics during the 2nd quarter worth approximately $61,000. Dimensional Fund Advisors LP acquired a new position in Acrivon Therapeutics during the second quarter worth $58,000. Rhumbline Advisers raised its position in Acrivon Therapeutics by 48.9% during the second 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. Bank of New York Mellon Corp lifted its holdings 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 valued at $212,000 after purchasing an additional 12,219 shares in the last quarter. Finally, Baker BROS. Advisors LP acquired a new stake in shares of Acrivon Therapeutics in the first quarter valued at about $378,000. Hedge funds and other institutional investors own 71.62% of the company’s stock.

Acrivon Therapeutics Price Performance

Shares of NASDAQ ACRV opened at $7.47 on Friday. The company has a market capitalization of $230.65 million, a P/E ratio of -2.59 and a beta of 0.81. The company has a 50 day simple moving average of $8.18 and a 200-day simple moving average of $7.68. Acrivon Therapeutics, Inc. has a 1 year low of $3.19 and a 1 year high of $11.90.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its earnings results on Tuesday, August 13th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.08. As a group, research analysts expect that Acrivon Therapeutics, Inc. will post -2.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. LADENBURG THALM/SH SH upgraded shares of Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Monday, September 16th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $28.00 price target (up from $25.00) on shares of Acrivon Therapeutics in a research note on Monday, September 16th. Piper Sandler Companies restated a “buy” rating and issued a $30.00 price objective on shares of Acrivon Therapeutics in a report on Friday, September 6th. JMP Securities reiterated a “market outperform” rating and issued a $17.00 target price on shares of Acrivon Therapeutics in a research report on Monday, September 16th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $22.00 price objective on shares of Acrivon Therapeutics in a research note on Monday, September 16th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $23.86.

Acrivon Therapeutics 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.