Acrivon Therapeutics’ (ACRV) “Buy” Rating Reaffirmed at HC Wainwright

Acrivon Therapeutics (NASDAQ:ACRV)‘s stock had its “buy” rating restated by HC Wainwright in a note issued to investors on Monday, Benzinga reports. They presently have a $22.00 price objective on the stock. HC Wainwright’s price target points to a potential upside of 146.91% from the company’s previous close.

Several other research firms have also recently issued reports on ACRV. LADENBURG THALM/SH SH upgraded 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. Piper Sandler Companies reiterated a “buy” rating and issued a $30.00 price objective on shares of Acrivon Therapeutics in a research report on Friday, September 6th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $23.43.

Acrivon Therapeutics Price Performance

Acrivon Therapeutics stock opened at $8.91 on Monday. Acrivon Therapeutics has a 12 month low of $3.19 and a 12 month high of $11.90. The business has a 50 day simple moving average of $8.15 and a 200-day simple moving average of $7.65. The stock has a market capitalization of $275.11 million, a PE ratio of -3.09 and a beta of 0.81.

Acrivon Therapeutics (NASDAQ:ACRV) last released 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. As a group, equities research analysts anticipate that Acrivon Therapeutics will post -2.4 EPS for the current year.

Institutional Trading of Acrivon Therapeutics

Several large investors have recently bought and sold shares of ACRV. Vanguard Group Inc. grew its holdings in Acrivon Therapeutics by 6.6% in the first quarter. Vanguard Group Inc. now owns 507,185 shares of the company’s stock valued at $3,626,000 after purchasing an additional 31,208 shares during the last quarter. American International Group Inc. grew its holdings in Acrivon Therapeutics by 39.2% in the first quarter. American International Group Inc. now owns 6,016 shares of the company’s stock valued at $43,000 after purchasing an additional 1,695 shares during the last quarter. Baker BROS. Advisors LP acquired a new stake in Acrivon Therapeutics in the first quarter valued at $378,000. Bank of New York Mellon Corp grew its holdings in Acrivon Therapeutics by 50.1% in the second quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company’s stock valued at $212,000 after purchasing an additional 12,219 shares during the last quarter. Finally, Rhumbline Advisers grew 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. Institutional investors and hedge funds 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.