Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Receives $23.67 Consensus PT from Brokerages

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) has earned a consensus recommendation of “Buy” from the six research firms that are covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $23.67.

Several research analysts have commented on the company. Piper Sandler Companies restated a “buy” rating and issued a $30.00 target price 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 on the stock in a research note on Monday, September 16th. JMP Securities reiterated a “market outperform” rating and set a $17.00 price target on shares of Acrivon Therapeutics in a research report on Monday, September 16th. BMO Capital Markets decreased their price objective on Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Thursday, November 14th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $22.00 target price on shares of Acrivon Therapeutics in a research note on Thursday, November 14th.

Institutional Investors Weigh In On Acrivon Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in shares of Acrivon Therapeutics by 50.1% during the second quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company’s stock valued at $212,000 after acquiring an additional 12,219 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Acrivon Therapeutics by 48.9% in the 2nd quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock worth $94,000 after purchasing an additional 5,320 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Acrivon Therapeutics in the second quarter worth about $58,000. XTX Topco Ltd bought a new stake in Acrivon Therapeutics during the 2nd quarter worth approximately $61,000. Finally, Sands Capital Ventures LLC raised its position in shares of 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 during the period. 71.62% of the stock is owned by hedge funds and other institutional investors.

Acrivon Therapeutics Stock Down 4.4 %

Shares of ACRV opened at $5.92 on Thursday. The firm has a market capitalization of $184.33 million, a PE ratio of -2.19 and a beta of 0.55. Acrivon Therapeutics has a 12-month low of $3.19 and a 12-month high of $11.90. The stock’s fifty day simple moving average is $7.31 and its 200-day simple moving average is $7.50.

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.