Acrivon Therapeutics' (NASDAQ:ACRV – Get Rating) quiet period is set to end on Monday, December 26th. Acrivon Therapeutics had issued 7,550,000 shares in its IPO on November 15th. The total size of the offering was $94,375,000 based on an initial share price of $12.50. During Acrivon Therapeutics' quiet period, insiders and underwriters involved in the IPO are restricted from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company's quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on the stock. Cowen assumed coverage on shares of Acrivon Therapeutics in a research report on Monday, December 12th. They issued an "outperform" rating on the stock. Piper Sandler assumed coverage on shares of Acrivon Therapeutics in a research report on Sunday, December 11th. They issued an "overweight" rating and a $25.00 price target on the stock. Cowen assumed coverage on shares of Acrivon Therapeutics in a research report on Monday, December 12th. They issued an "outperform" rating on the stock. Finally, Jefferies Financial Group assumed coverage on shares of Acrivon Therapeutics in a research report on Monday, December 12th. They issued a "buy" rating and a $17.00 price target on the stock.
Get Acrivon Therapeutics alerts:Acrivon Therapeutics Price Performance
Acrivon Therapeutics stock opened at $11.99 on Monday. Acrivon Therapeutics has a 52 week low of $10.90 and a 52 week high of $20.70.
Insider Activity
In other Acrivon Therapeutics news, major shareholder Ltd Chione purchased 400,000 shares of the stock in a transaction dated Thursday, November 17th. The shares were acquired at an average price of $12.50 per share, for a total transaction of $5,000,000.00. Following the completion of the acquisition, the insider now owns 3,856,597 shares of the company's stock, valued at approximately $48,207,462.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Acrivon Therapeutics news, major shareholder Ltd Chione bought 400,000 shares of the company's stock in a transaction dated Thursday, November 17th. The shares were bought at an average price of $12.50 per share, for a total transaction of $5,000,000.00. Following the acquisition, the insider now directly owns 3,856,597 shares of the company's stock, valued at $48,207,462.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ra Capital Management, L.P. purchased 3,389,500 shares of the firm's stock in a transaction that occurred on Thursday, November 17th. The shares were bought at an average price of $12.50 per share, with a total value of $42,368,750.00. Following the completion of the acquisition, the director now owns 4,384,206 shares of the company's stock, valued at approximately $54,802,575. The disclosure for this purchase can be found here.About Acrivon Therapeutics
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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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