Geode Capital Management LLC Cuts Stock Position in Acrivon Therapeutics, Inc. (NASDAQ:ACRV)

Geode Capital Management LLC trimmed its holdings in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 2.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 302,103 shares of the company’s stock after selling 6,290 shares during the period. Geode Capital Management LLC’s holdings in Acrivon Therapeutics were worth $2,115,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Rhumbline Advisers raised its position in shares of Acrivon Therapeutics by 48.9% during the 2nd quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock valued at $94,000 after buying an additional 5,320 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in Acrivon Therapeutics during the second quarter worth approximately $58,000. XTX Topco Ltd purchased a new stake in Acrivon Therapeutics during the second quarter valued at approximately $61,000. Barclays PLC lifted its stake in shares of Acrivon Therapeutics by 51.2% in the 3rd quarter. Barclays PLC now owns 33,306 shares of the company’s stock valued at $233,000 after purchasing an additional 11,273 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Acrivon Therapeutics by 50.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company’s stock worth $212,000 after purchasing an additional 12,219 shares during the period. Institutional investors own 71.62% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on ACRV shares. BMO Capital Markets decreased their price target on 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 issued a $17.00 target price on shares of Acrivon Therapeutics in a research note on Monday, September 16th. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price target on shares of Acrivon Therapeutics in a research note on Thursday, November 14th. Finally, LADENBURG THALM/SH SH raised shares of Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Monday, September 16th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Acrivon Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $23.67.

Acrivon Therapeutics Stock Performance

Shares of ACRV stock opened at $6.10 on Thursday. Acrivon Therapeutics, Inc. has a fifty-two week low of $3.19 and a fifty-two week high of $11.90. The firm has a market capitalization of $189.93 million, a PE ratio of -2.26 and a beta of 0.77. The stock’s 50-day simple moving average is $6.99 and its 200-day simple moving average is $7.46.

About Acrivon Therapeutics

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.