Acrivon Therapeutics (NASDAQ:ACRV) Price Target Increased to $17.00 by Analysts at JMP Securities

Acrivon Therapeutics (NASDAQ:ACRV) had its price target raised by JMP Securities from $14.00 to $17.00 in a research report released on Thursday, Benzinga reports. They currently have a market outperform rating on the stock.

Several other analysts have also issued reports on ACRV. BMO Capital Markets reaffirmed an outperform rating and issued a $18.00 target price on shares of Acrivon Therapeutics in a research note on Monday, April 1st. HC Wainwright reaffirmed a buy rating and issued a $20.00 target price on shares of Acrivon Therapeutics in a research note on Thursday. LADENBURG THALM/SH SH cut their target price on Acrivon Therapeutics from $18.00 to $14.00 and set a buy rating for the company in a research note on Friday, April 5th. Finally, Piper Sandler upped their target price on Acrivon Therapeutics from $26.00 to $30.00 and gave the stock an overweight rating in a research note on Thursday. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of Buy and an average price target of $21.75.

Acrivon Therapeutics Trading Down 10.8 %

Shares of NASDAQ ACRV opened at $8.47 on Thursday. Acrivon Therapeutics has a 12 month low of $3.19 and a 12 month high of $14.30. The firm has a market capitalization of $191.76 million, a price-to-earnings ratio of -3.10 and a beta of 1.94. The business has a 50-day moving average of $6.56 and a 200-day moving average of $5.35.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its quarterly earnings data on Thursday, March 28th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.14). On average, analysts predict that Acrivon Therapeutics will post -3.3 earnings per share for the current year.

Insider Buying and Selling at Acrivon Therapeutics

In related news, major shareholder Perceptive Advisors Llc acquired 2,353,000 shares of the stock in a transaction on Thursday, April 11th. The stock was purchased at an average price of $8.50 per share, for a total transaction of $20,000,500.00. Following the completion of the transaction, the insider now owns 5,360,858 shares of the company’s stock, valued at approximately $45,567,293. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Acrivon Therapeutics

A hedge fund recently raised its stake in Acrivon Therapeutics stock. Exchange Traded Concepts LLC lifted its holdings in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,289 shares of the company’s stock after acquiring an additional 3,370 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.06% of Acrivon Therapeutics worth $65,000 as of its most recent filing with the Securities & Exchange Commission. 71.62% of the stock is currently owned by institutional investors and hedge funds.

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.