Brokerages Set Acrivon Therapeutics, Inc. (NASDAQ:ACRV) PT at $22.57

Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) have received a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $22.57.

Several research firms have recently commented on ACRV. HC Wainwright raised their price target on Acrivon Therapeutics from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. LADENBURG THALM/SH SH lowered Acrivon Therapeutics from a “buy” rating to a “neutral” rating in a report on Monday, April 29th. Piper Sandler lifted their target price on Acrivon Therapeutics from $26.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. BMO Capital Markets reiterated an “outperform” rating and issued a $25.00 target price on shares of Acrivon Therapeutics in a report on Wednesday, May 15th. Finally, JMP Securities lifted their target price on Acrivon Therapeutics from $14.00 to $17.00 and gave the company a “market outperform” rating in a report on Thursday, April 25th.

Acrivon Therapeutics Stock Down 3.3 %

ACRV opened at $7.55 on Monday. Acrivon Therapeutics has a 52 week low of $3.19 and a 52 week high of $12.89. The business has a fifty day simple moving average of $7.26 and a 200-day simple moving average of $6.71. The firm has a market cap of $233.14 million, a P/E ratio of -2.62 and a beta of 0.79.

Acrivon Therapeutics (NASDAQ:ACRV) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.16. Sell-side analysts expect that Acrivon Therapeutics will post -2.47 earnings per share for the current year.

Hedge Funds Weigh In On Acrivon Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. American International Group Inc. increased its position in Acrivon Therapeutics by 39.2% in the 1st quarter. American International Group Inc. now owns 6,016 shares of the company’s stock valued at $43,000 after acquiring an additional 1,695 shares during the period. Rhumbline Advisers increased its position 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 acquiring an additional 5,320 shares during the period. Bank of New York Mellon Corp increased its position 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 acquiring an additional 12,219 shares during the period. Vanguard Group Inc. increased its position in Acrivon Therapeutics by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 507,185 shares of the company’s stock valued at $3,626,000 after acquiring an additional 31,208 shares during the period. Finally, Baker BROS. Advisors LP acquired a new position in Acrivon Therapeutics in the 1st quarter valued at about $378,000. 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.