Brokerages Set Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Target Price at $23.86

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) has earned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have covered the stock in the last year is $23.86.

Several research firms have recently weighed in on ACRV. BMO Capital Markets reissued an “outperform” rating and issued a $28.00 price target (up from $25.00) on shares of Acrivon Therapeutics in a research note on Monday, September 16th. JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 price target on shares of Acrivon Therapeutics in a report on Monday, September 16th. Piper Sandler Companies reissued a “buy” rating and set a $30.00 price objective on shares of Acrivon Therapeutics in a research note on Friday, September 6th. LADENBURG THALM/SH SH raised Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Monday, September 16th. Finally, HC Wainwright reissued a “buy” rating and set a $22.00 price target on shares of Acrivon Therapeutics in a research report on Monday, September 16th.

Hedge Funds Weigh In On Acrivon Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. American International Group Inc. increased its stake in Acrivon Therapeutics by 39.2% during the first quarter. American International Group Inc. now owns 6,016 shares of the company’s stock worth $43,000 after purchasing an additional 1,695 shares during the period. Dimensional Fund Advisors LP purchased a new stake in Acrivon Therapeutics during the 2nd quarter worth approximately $58,000. XTX Topco Ltd acquired a new stake in Acrivon Therapeutics during the 2nd quarter worth approximately $61,000. Rhumbline Advisers boosted its position in Acrivon Therapeutics by 48.9% in 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 during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Acrivon Therapeutics by 50.1% in the second quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company’s stock worth $212,000 after acquiring an additional 12,219 shares in the last quarter. 71.62% of the stock is currently owned by hedge funds and other institutional investors.

Acrivon Therapeutics Price Performance

Shares of Acrivon Therapeutics stock opened at $7.23 on Tuesday. The stock has a market capitalization of $223.24 million, a P/E ratio of -2.51 and a beta of 0.81. The business has a 50 day simple moving average of $8.17 and a two-hundred day simple moving average of $7.75. Acrivon Therapeutics has a 12 month low of $3.19 and a 12 month high of $11.90.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.08. As a group, research analysts anticipate that Acrivon Therapeutics will post -2.4 EPS for the current fiscal year.

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.