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

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) has been assigned a consensus rating of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have covered the stock in the last year is $23.67.

A number of brokerages have commented on ACRV. BMO Capital Markets reduced their price objective on shares of Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Thursday, November 14th. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price target on shares of Acrivon Therapeutics in a research note on Thursday, November 14th.

Acrivon Therapeutics Stock Performance

NASDAQ ACRV opened at $5.60 on Monday. The stock has a market cap of $174.38 million, a PE ratio of -2.07 and a beta of 0.77. Acrivon Therapeutics has a fifty-two week low of $3.19 and a fifty-two week high of $11.90. The firm’s fifty day moving average price is $6.49 and its two-hundred day moving average price is $7.42.

Hedge Funds Weigh In On Acrivon Therapeutics

Institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP purchased a new stake in shares of Acrivon Therapeutics in the 2nd quarter worth about $58,000. XTX Topco Ltd purchased a new stake in Acrivon Therapeutics in the second quarter worth about $61,000. Rhumbline Advisers boosted its position in Acrivon Therapeutics by 48.9% during the 2nd quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock valued at $94,000 after acquiring an additional 5,320 shares in the last quarter. Barclays PLC grew its holdings in shares of Acrivon Therapeutics by 51.2% during the 3rd quarter. Barclays PLC now owns 33,306 shares of the company’s stock worth $233,000 after acquiring an additional 11,273 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Acrivon Therapeutics by 548.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,991 shares of the company’s stock worth $238,000 after acquiring an additional 28,748 shares in the last quarter. 71.62% of the stock is currently 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.