Charles Schwab Investment Management Inc. Sells 27,705 Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV)

Charles Schwab Investment Management Inc. lowered its position in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 19.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 116,253 shares of the company’s stock after selling 27,705 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.38% of Acrivon Therapeutics worth $814,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Perceptive Advisors LLC lifted its stake in shares of Acrivon Therapeutics by 78.2% during the 2nd quarter. Perceptive Advisors LLC now owns 5,360,858 shares of the company’s stock valued at $31,093,000 after buying an additional 2,353,000 shares in the last quarter. Sands Capital Ventures LLC raised its holdings in Acrivon Therapeutics by 28.4% during the second quarter. Sands Capital Ventures LLC now owns 2,122,605 shares of the company’s stock valued at $12,311,000 after acquiring an additional 470,000 shares during the period. Marshall Wace LLP lifted its position in shares of Acrivon Therapeutics by 58.8% in the second quarter. Marshall Wace LLP now owns 948,866 shares of the company’s stock valued at $5,503,000 after acquiring an additional 351,397 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Acrivon Therapeutics by 50.1% in the second quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company’s stock worth $212,000 after acquiring an additional 12,219 shares during the period. Finally, Rhumbline Advisers grew its position in shares of 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 purchasing an additional 5,320 shares in the last quarter. 71.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on ACRV. HC Wainwright restated a “buy” rating and issued a $22.00 price target on shares of Acrivon Therapeutics in a research note on Thursday, November 14th. Piper Sandler Companies restated a “buy” rating and set a $30.00 target price on shares of Acrivon Therapeutics in a research report on Friday, September 6th. BMO Capital Markets reduced their price target on shares of Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Thursday, November 14th. JMP Securities reissued a “market outperform” rating and set a $17.00 price objective on shares of Acrivon Therapeutics in a report on Monday, September 16th. Finally, LADENBURG THALM/SH SH raised Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Monday, September 16th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Acrivon Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $23.67.

Acrivon Therapeutics Price Performance

Shares of NASDAQ ACRV opened at $6.69 on Thursday. The stock has a market capitalization of $208.30 million, a P/E ratio of -2.48 and a beta of 0.55. Acrivon Therapeutics, Inc. has a 1-year low of $3.19 and a 1-year high of $11.90. The business’s 50 day moving average is $7.48 and its two-hundred day moving average is $7.56.

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.