State Street Corp Acquires 47,233 Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV)

State Street Corp boosted its stake in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 26.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 225,896 shares of the company’s stock after purchasing an additional 47,233 shares during the period. State Street Corp owned about 0.73% of Acrivon Therapeutics worth $1,581,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ACRV. Dimensional Fund Advisors LP acquired a new stake in shares of Acrivon Therapeutics in the second quarter valued at about $58,000. XTX Topco Ltd acquired a new stake in Acrivon Therapeutics during the 2nd quarter valued at approximately $61,000. Rhumbline Advisers raised its holdings in Acrivon Therapeutics by 48.9% during 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 during the last quarter. Bank of New York Mellon Corp lifted its position 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 purchasing an additional 12,219 shares during the period. Finally, Marshall Wace LLP boosted its stake in shares of 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 last quarter. 71.62% of the stock is owned by institutional investors.

Acrivon Therapeutics Stock Performance

Shares of Acrivon Therapeutics stock opened at $6.02 on Thursday. The stock has a market capitalization of $187.44 million, a PE ratio of -2.23 and a beta of 0.55. Acrivon Therapeutics, Inc. has a 52 week low of $3.19 and a 52 week high of $11.90. The stock has a 50 day moving average price of $7.18 and a two-hundred day moving average price of $7.47.

Wall Street Analyst Weigh In

Several research firms 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 target price on the stock in a report on Monday, September 16th. Piper Sandler Companies reissued a “buy” rating and issued a $30.00 price objective on shares of Acrivon Therapeutics in a research note on Friday, September 6th. HC Wainwright reaffirmed a “buy” rating and set a $22.00 target price on shares of Acrivon Therapeutics in a research note on Thursday, November 14th. BMO Capital Markets dropped their price target on Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, November 14th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $17.00 price objective on shares of Acrivon Therapeutics in a research report on Monday, September 16th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $23.67.

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.