Analysts Set Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Price Target at $23.67

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) has received a consensus recommendation of “Buy” from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $23.67.

A number of equities analysts recently weighed in on ACRV shares. Cantor Fitzgerald initiated coverage on shares of Acrivon Therapeutics in a research note on Friday, January 31st. They set an “overweight” rating for the company. HC Wainwright reissued a “buy” rating and issued a $22.00 price objective on shares of Acrivon Therapeutics in a research report on Thursday, November 14th. KeyCorp initiated coverage on Acrivon Therapeutics in a research note on Friday, January 31st. They issued an “overweight” rating on the stock. Finally, BMO Capital Markets decreased their target price on Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, November 14th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Acorn Capital Advisors LLC acquired a new stake in Acrivon Therapeutics in the fourth quarter valued at approximately $2,440,000. Exome Asset Management LLC bought a new position in shares of Acrivon Therapeutics in the 3rd quarter worth $817,000. State Street Corp grew its position in Acrivon Therapeutics by 26.4% in the 3rd quarter. State Street Corp now owns 225,896 shares of the company’s stock valued at $1,581,000 after purchasing an additional 47,233 shares during the period. JPMorgan Chase & Co. increased its stake in Acrivon Therapeutics by 548.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,991 shares of the company’s stock valued at $238,000 after purchasing an additional 28,748 shares in the last quarter. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Acrivon Therapeutics by 29.7% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 102,784 shares of the company’s stock worth $619,000 after buying an additional 23,535 shares during the last quarter. 71.62% of the stock is owned by institutional investors and hedge funds.

Acrivon Therapeutics Stock Performance

NASDAQ:ACRV opened at $5.07 on Tuesday. Acrivon Therapeutics has a fifty-two week low of $4.69 and a fifty-two week high of $11.90. The company has a 50 day simple moving average of $5.65 and a two-hundred day simple moving average of $6.87. The company has a market capitalization of $157.86 million, a PE ratio of -1.88 and a beta of 0.85.

About Acrivon Therapeutics

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.