Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Receives Consensus Recommendation of “Buy” from Analysts

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) has been assigned an average recommendation of “Buy” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $23.86.

A number of brokerages recently commented on ACRV. JMP Securities restated a “market outperform” rating and issued a $17.00 target price on shares of Acrivon Therapeutics in a research note on Monday. 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. BMO Capital Markets restated an “outperform” rating and issued a $28.00 target price (up from $25.00) on shares of Acrivon Therapeutics in a research note on Monday. HC Wainwright restated a “buy” rating and issued a $22.00 target price on shares of Acrivon Therapeutics in a research note on Monday. Finally, LADENBURG THALM/SH SH upgraded Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Monday.

Acrivon Therapeutics Stock Down 7.6 %

Shares of NASDAQ ACRV opened at $8.23 on Tuesday. The business’s 50 day moving average is $8.17 and its two-hundred day moving average is $7.67. The company has a market cap of $254.12 million, a P/E ratio of -2.86 and a beta of 0.81. Acrivon Therapeutics has a 12 month low of $3.19 and a 12 month high of $11.90.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its quarterly 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. Sell-side analysts expect that Acrivon Therapeutics will post -2.4 earnings per share for the current fiscal year.

Institutional Trading of Acrivon Therapeutics

Several large investors have recently made changes to their positions in ACRV. American International Group Inc. grew its holdings in shares of Acrivon Therapeutics by 39.2% during the first quarter. American International Group Inc. now owns 6,016 shares of the company’s stock worth $43,000 after purchasing an additional 1,695 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of Acrivon Therapeutics during the second quarter worth $58,000. XTX Topco Ltd bought a new stake in shares of Acrivon Therapeutics during the second quarter worth $61,000. Rhumbline Advisers grew its holdings in shares of Acrivon Therapeutics by 48.9% during the second 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. Finally, Bank of New York Mellon Corp grew 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 worth $212,000 after purchasing an additional 12,219 shares during the last quarter. Institutional investors own 71.62% of the company’s stock.

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.