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

Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) have been assigned an average rating of “Buy” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $23.67.

ACRV has been the topic of several analyst reports. BMO Capital Markets reduced their target price on shares of Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Thursday, November 14th. HC Wainwright reiterated a “buy” rating and issued a $22.00 price target on shares of Acrivon Therapeutics in a research note on Thursday, November 14th.

Acrivon Therapeutics Stock Performance

Shares of ACRV opened at $5.78 on Monday. The stock has a market capitalization of $179.97 million, a PE ratio of -2.14 and a beta of 0.77. Acrivon Therapeutics has a 1 year low of $3.19 and a 1 year high of $11.90. The company’s 50-day simple moving average is $6.64 and its 200-day simple moving average is $7.45.

Institutional Investors Weigh In On Acrivon Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP acquired a new stake in Acrivon Therapeutics in the second quarter valued at $58,000. XTX Topco Ltd purchased a new position in Acrivon Therapeutics in the 2nd quarter valued at about $61,000. Rhumbline Advisers lifted its holdings in Acrivon Therapeutics by 48.9% in the 2nd quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock valued at $94,000 after purchasing an additional 5,320 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in 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 purchasing an additional 12,219 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Acrivon Therapeutics by 51.2% in the 3rd quarter. Barclays PLC now owns 33,306 shares of the company’s stock valued at $233,000 after purchasing an additional 11,273 shares in the last quarter. Institutional investors and hedge funds own 71.62% of the company’s stock.

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.