Cantor Fitzgerald Reaffirms “Overweight” Rating for Acrivon Therapeutics (NASDAQ:ACRV)

Acrivon Therapeutics (NASDAQ:ACRV)‘s stock had its “overweight” rating reaffirmed by research analysts at Cantor Fitzgerald in a report released on Wednesday,Benzinga reports.

Other research analysts have also recently issued reports about the company. HC Wainwright cut their price objective on Acrivon Therapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday. KeyCorp initiated coverage on shares of Acrivon Therapeutics in a report on Friday, January 31st. They set an “overweight” rating for the company. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Acrivon Therapeutics presently has an average rating of “Buy” and a consensus price target of $23.17.

Acrivon Therapeutics Stock Down 3.4 %

NASDAQ ACRV opened at $2.52 on Wednesday. Acrivon Therapeutics has a twelve month low of $2.44 and a twelve month high of $11.90. The stock has a market cap of $78.46 million, a P/E ratio of -0.93 and a beta of 0.85. The company’s 50-day simple moving average is $5.42 and its 200 day simple moving average is $6.57.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its earnings results on Thursday, March 27th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.06. Research analysts anticipate that Acrivon Therapeutics will post -2.49 earnings per share for the current year.

Institutional Trading of Acrivon Therapeutics

Hedge funds have recently modified their holdings of the stock. Barclays PLC raised its position in Acrivon Therapeutics by 51.2% in the 3rd quarter. Barclays PLC now owns 33,306 shares of the company’s stock worth $233,000 after purchasing an additional 11,273 shares during the last quarter. State Street Corp lifted its holdings in Acrivon Therapeutics by 26.4% in the third quarter. State Street Corp now owns 225,896 shares of the company’s stock valued at $1,581,000 after buying an additional 47,233 shares during the period. JPMorgan Chase & Co. boosted its stake in Acrivon Therapeutics by 548.3% in the third quarter. JPMorgan Chase & Co. now owns 33,991 shares of the company’s stock valued at $238,000 after acquiring an additional 28,748 shares during the last quarter. Exome Asset Management LLC acquired a new stake in Acrivon Therapeutics during the 3rd quarter worth $817,000. Finally, China Universal Asset Management Co. Ltd. bought a new stake in shares of Acrivon Therapeutics during the 4th quarter valued at $40,000. 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.