Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV – Get Rating) rose 1.2% during mid-day trading on Wednesday . The company traded as high as $18.96 and last traded at $16.40. Approximately 21,738 shares were traded during mid-day trading, an increase of 153% from the average daily volume of 8,588 shares. The stock had previously closed at $16.20.

Analyst Ratings Changes

ACRV has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on Acrivon Therapeutics in a research note on Monday, December 12th. They issued a "buy" rating and a $17.00 target price for the company. Cowen started coverage on Acrivon Therapeutics in a research note on Monday, December 12th. They issued an "outperform" rating for the company. Cowen started coverage on Acrivon Therapeutics in a research note on Monday, December 12th. They set an "outperform" rating for the company. Finally, Piper Sandler started coverage on Acrivon Therapeutics in a research note on Sunday, December 11th. They set an "overweight" rating and a $25.00 price objective for the company.

Acrivon Therapeutics Stock Up 1.2 %

The firm's 50 day moving average price is $12.62.

Insider Activity

In other news, Director Ra Capital Management, L.P. purchased 3,389,500 shares of Acrivon Therapeutics stock in a transaction dated Thursday, November 17th. The shares were purchased at an average price of $12.50 per share, with a total value of $42,368,750.00. Following the transaction, the director now owns 4,384,206 shares in the company, valued at $54,802,575. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other news, major shareholder Ltd Chione bought 400,000 shares of the business's stock in a transaction on Thursday, November 17th. The shares were bought at an average price of $12.50 per share, with a total value of $5,000,000.00. Following the completion of the transaction, the insider now directly owns 3,856,597 shares in the company, valued at $48,207,462.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ra Capital Management, L.P. bought 3,389,500 shares of the business's stock in a transaction on Thursday, November 17th. The stock was purchased at an average cost of $12.50 per share, for a total transaction of $42,368,750.00. Following the transaction, the director now owns 4,384,206 shares of the company's stock, valued at $54,802,575. The disclosure for this purchase can be found here.

Hedge Funds Weigh In On Acrivon Therapeutics

An institutional investor recently bought a new position in Acrivon Therapeutics stock. Bank of Montreal Can purchased a new position in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV – Get Rating) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 42,444 shares of the company's stock, valued at approximately $545,000. Bank of Montreal Can owned approximately 0.20% of Acrivon Therapeutics as of its most recent SEC filing. Institutional investors own 63.82% of the company's stock.

Acrivon Therapeutics Company Profile

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Acrivon Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in developing precision oncology medicines that it matches to patients whose tumors are predicted to be sensitive to specific medicine by utilizing its proteomics-based patient responder identification platform, Acrivon Predictive Precision Proteomics (AP3).

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