BMO Capital Markets Cuts Acrivon Therapeutics (NASDAQ:ACRV) Price Target to $27.00

Acrivon Therapeutics (NASDAQ:ACRV) had its target price reduced by BMO Capital Markets from $28.00 to $27.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

ACRV has been the subject of several other reports. LADENBURG THALM/SH SH raised Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Monday, September 16th. 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. JMP Securities restated a “market outperform” rating and set a $17.00 price objective on shares of Acrivon Therapeutics in a report on Monday, September 16th. Finally, HC Wainwright reissued a “buy” rating and set a $22.00 price target on shares of Acrivon Therapeutics in a research report on Thursday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Acrivon Therapeutics presently has an average rating of “Buy” and a consensus target price of $23.67.

Acrivon Therapeutics Stock Performance

Shares of ACRV opened at $6.96 on Thursday. Acrivon Therapeutics has a fifty-two week low of $3.19 and a fifty-two week high of $11.90. The stock has a market capitalization of $215.57 million, a PE ratio of -2.58 and a beta of 0.66. The company’s fifty day moving average is $7.78 and its 200 day moving average is $7.78.

Institutional Investors Weigh In On Acrivon Therapeutics

Large investors have recently made changes to their positions in the stock. American International Group Inc. raised its stake in shares of Acrivon Therapeutics by 39.2% in 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. Rhumbline Advisers boosted its holdings in Acrivon Therapeutics by 48.9% in the second quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock valued at $94,000 after purchasing an additional 5,320 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in Acrivon Therapeutics during the 2nd quarter worth about $58,000. XTX Topco Ltd acquired a new position in shares of Acrivon Therapeutics in the 2nd quarter valued at about $61,000. Finally, Barclays PLC grew its holdings in Acrivon Therapeutics by 51.2% during the third 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. 71.62% of the stock is owned by hedge funds and other 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.