Acrivon Therapeutics (NASDAQ:ACRV) Raised to Buy at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH upgraded shares of Acrivon Therapeutics (NASDAQ:ACRV) from a neutral rating to a buy rating in a research note published on Monday morning, Marketbeat.com reports. The brokerage currently has $16.00 price objective on the stock.

A number of other brokerages have also issued reports on ACRV. HC Wainwright restated a buy rating and set a $22.00 target price on shares of Acrivon Therapeutics in a research report on Tuesday, August 13th. Piper Sandler Companies reissued a buy rating and set a $30.00 price objective on shares of Acrivon Therapeutics in a research report on Friday, September 6th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of Buy and a consensus price target of $23.86.

Acrivon Therapeutics Stock Down 0.5 %

Shares of Acrivon Therapeutics stock opened at $7.56 on Monday. Acrivon Therapeutics has a 52 week low of $3.19 and a 52 week high of $11.90. The firm’s 50 day moving average is $8.18 and its two-hundred day moving average is $7.68. The firm has a market capitalization of $233.43 million, a P/E ratio of -2.65 and a beta of 0.81.

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

Institutional Trading of Acrivon Therapeutics

Several hedge funds have recently made changes to their positions in ACRV. American International Group Inc. lifted 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 valued at $43,000 after purchasing an additional 1,695 shares during the period. Dimensional Fund Advisors LP purchased a new position in Acrivon Therapeutics in the second quarter valued at about $58,000. XTX Topco Ltd acquired a new stake in shares of Acrivon Therapeutics during the 2nd quarter valued at approximately $61,000. Rhumbline Advisers lifted its position in shares of Acrivon Therapeutics by 48.9% during the 2nd quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock valued at $94,000 after acquiring an additional 5,320 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Acrivon Therapeutics by 50.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company’s stock worth $212,000 after acquiring an additional 12,219 shares in 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.