Acrivon Therapeutics (NASDAQ:ACRV) Price Target Increased to $30.00 by Analysts at Piper Sandler

Acrivon Therapeutics (NASDAQ:ACRV) had its price objective upped by analysts at Piper Sandler from $26.00 to $30.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 215.79% from the stock’s current price.

ACRV has been the topic of a number of other research reports. HC Wainwright restated a “buy” rating and set a $20.00 price objective on shares of Acrivon Therapeutics in a research note on Thursday. JMP Securities reissued a “market outperform” rating and set a $14.00 price objective on shares of Acrivon Therapeutics in a report on Monday, April 1st. BMO Capital Markets reissued an “outperform” rating and set a $18.00 price objective on shares of Acrivon Therapeutics in a report on Monday, April 1st. Finally, LADENBURG THALM/SH SH cut their target price on Acrivon Therapeutics from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $21.38.

Acrivon Therapeutics Trading Down 3.3 %

Shares of NASDAQ ACRV opened at $9.50 on Thursday. The firm has a market cap of $215.08 million, a P/E ratio of -3.48 and a beta of 1.94. Acrivon Therapeutics has a 1-year low of $3.19 and a 1-year high of $14.30. The business’s 50 day moving average is $6.47 and its 200-day moving average is $5.33.

Acrivon Therapeutics (NASDAQ:ACRV) last announced its earnings results on Thursday, March 28th. The company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.14). Analysts forecast that Acrivon Therapeutics will post -3.3 EPS for the current year.

Insider Transactions at Acrivon Therapeutics

In other news, major shareholder Perceptive Advisors Llc bought 2,353,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The stock was acquired at an average cost of $8.50 per share, with a total value of $20,000,500.00. Following the transaction, the insider now directly owns 5,360,858 shares of the company’s stock, valued at approximately $45,567,293. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Acrivon Therapeutics

An institutional investor recently raised its position in Acrivon Therapeutics stock. Exchange Traded Concepts LLC raised its stake in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 13,289 shares of the company’s stock after purchasing an additional 3,370 shares during the period. Exchange Traded Concepts LLC owned approximately 0.06% of Acrivon Therapeutics worth $65,000 as of its most recent SEC filing. 71.62% of the stock is owned by institutional investors.

Acrivon Therapeutics Company 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.