HC Wainwright Reiterates Buy Rating for Acrivon Therapeutics (NASDAQ:ACRV)

Acrivon Therapeutics (NASDAQ:ACRV)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a report issued on Monday, Benzinga reports. They presently have a $22.00 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 189.47% from the stock’s previous close.

A number of other brokerages also recently issued reports on ACRV. LADENBURG THALM/SH SH upgraded shares of Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Monday. Piper Sandler Companies reissued a “buy” rating and set a $30.00 target price on shares of Acrivon Therapeutics in a research note on Friday, September 6th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Acrivon Therapeutics currently has an average rating of “Buy” and an average target price of $23.86.

Acrivon Therapeutics Stock Performance

ACRV stock opened at $7.60 on Monday. The company has a market capitalization of $234.67 million, a P/E ratio of -2.64 and a beta of 0.81. The company has a fifty day moving average price of $8.17 and a 200-day moving average price of $7.67. Acrivon Therapeutics has a 52-week low of $3.19 and a 52-week high of $11.90.

Acrivon Therapeutics (NASDAQ:ACRV) last announced its earnings results on Tuesday, August 13th. The company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.60) by $0.08. As a group, sell-side analysts forecast that Acrivon Therapeutics will post -2.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Perceptive Advisors LLC grew its stake in Acrivon Therapeutics by 78.2% in the second quarter. Perceptive Advisors LLC now owns 5,360,858 shares of the company’s stock valued at $31,093,000 after acquiring an additional 2,353,000 shares during the period. Marshall Wace LLP grew its position in Acrivon Therapeutics by 58.8% in the 2nd quarter. Marshall Wace LLP now owns 948,866 shares of the company’s stock valued at $5,503,000 after purchasing an additional 351,397 shares during the period. Sands Capital Ventures LLC increased its stake in Acrivon Therapeutics by 28.4% during the 2nd quarter. Sands Capital Ventures LLC now owns 2,122,605 shares of the company’s stock valued at $12,311,000 after purchasing an additional 470,000 shares in the last quarter. XTX Topco Ltd bought a new stake in Acrivon Therapeutics during the 2nd quarter valued at $61,000. Finally, Dimensional Fund Advisors LP acquired a new position in Acrivon Therapeutics during the second quarter worth $58,000. 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.