Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Receives $23.83 Average PT from Analysts

Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) have earned a consensus rating of “Buy” from the six ratings firms that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $23.83.

ACRV has been the subject of a number of recent analyst reports. JMP Securities reissued a “market outperform” rating and set a $17.00 price objective on shares of Acrivon Therapeutics in a research report on Monday, September 16th. BMO Capital Markets reiterated an “outperform” rating and set a $28.00 price target (up from $25.00) on shares of Acrivon Therapeutics in a research report on Monday, September 16th. Piper Sandler Companies reissued a “buy” rating and issued a $30.00 price target on shares of Acrivon Therapeutics in a research note on Friday, September 6th. LADENBURG THALM/SH SH raised shares of Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Monday, September 16th. Finally, HC Wainwright reissued a “buy” rating and issued a $22.00 target price on shares of Acrivon Therapeutics in a research report on Monday, September 16th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. American International Group Inc. boosted its position in Acrivon Therapeutics by 39.2% in the 1st quarter. American International Group Inc. now owns 6,016 shares of the company’s stock valued at $43,000 after buying an additional 1,695 shares during the period. Rhumbline Advisers increased 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 period. Dimensional Fund Advisors LP acquired a new stake in Acrivon Therapeutics in the 2nd quarter valued at about $58,000. XTX Topco Ltd purchased a new position in shares of Acrivon Therapeutics in the 2nd quarter valued at about $61,000. Finally, Bank of New York Mellon Corp boosted its stake 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 valued at $212,000 after buying an additional 12,219 shares during the period. Institutional investors and hedge funds own 71.62% of the company’s stock.

Acrivon Therapeutics Price Performance

NASDAQ:ACRV opened at $8.57 on Wednesday. The company’s 50-day moving average is $7.84 and its two-hundred day moving average is $7.83. Acrivon Therapeutics has a 1-year low of $3.19 and a 1-year high of $11.90. The firm has a market capitalization of $265.43 million, a price-to-earnings ratio of -3.09 and a beta of 0.66.

Acrivon Therapeutics (NASDAQ:ACRV) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.08. As a group, equities analysts anticipate that Acrivon Therapeutics will post -2.4 earnings per share for the current fiscal year.

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.