Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) has received an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $22.57.

Several research firms have recently weighed in on ACRV. HC Wainwright boosted their price objective on shares of Acrivon Therapeutics from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. LADENBURG THALM/SH SH cut Acrivon Therapeutics from a “buy” rating to a “neutral” rating in a report on Monday, April 29th. JMP Securities lifted their price objective on Acrivon Therapeutics from $14.00 to $17.00 and gave the stock a “market outperform” rating in a report on Thursday, April 25th. BMO Capital Markets reissued an “outperform” rating and issued a $25.00 target price on shares of Acrivon Therapeutics in a report on Wednesday, May 15th. Finally, Piper Sandler boosted their price target on Acrivon Therapeutics from $26.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th.

Institutional Trading of Acrivon Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of ACRV. American International Group Inc. boosted its position in shares of Acrivon Therapeutics by 39.2% during the 1st quarter. American International Group Inc. now owns 6,016 shares of the company’s stock valued at $43,000 after acquiring an additional 1,695 shares during the last quarter. Rhumbline Advisers lifted its position in Acrivon Therapeutics by 48.9% during the second quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock valued at $94,000 after purchasing an additional 5,320 shares during the last quarter. Bank of New York Mellon Corp grew its stake 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 buying an additional 12,219 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Acrivon Therapeutics by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 507,185 shares of the company’s stock worth $3,626,000 after buying an additional 31,208 shares during the last quarter. Finally, Baker BROS. Advisors LP purchased a new stake in shares of Acrivon Therapeutics during the 1st quarter valued at about $378,000. 71.62% of the stock is currently owned by institutional investors.

Acrivon Therapeutics Price Performance

Shares of NASDAQ ACRV opened at $7.55 on Monday. The stock has a market cap of $233.14 million, a P/E ratio of -2.62 and a beta of 0.78. Acrivon Therapeutics has a 1 year low of $3.19 and a 1 year high of $12.89. The firm has a 50-day moving average of $7.26 and a 200 day moving average of $6.67.

Acrivon Therapeutics (NASDAQ:ACRV) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.16. Research analysts expect that Acrivon Therapeutics will post -2.47 earnings per share 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.