Acrivon Therapeutics (NASDAQ:ACRV) Trading 1% Higher

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) shares traded up 1% during trading on Monday . The company traded as high as $6.15 and last traded at $5.86. 234,354 shares were traded during trading, a decline of 46% from the average session volume of 437,917 shares. The stock had previously closed at $5.80.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Piper Sandler boosted their price target on shares of Acrivon Therapeutics from $26.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. HC Wainwright upped their target price on shares of 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 shares of Acrivon Therapeutics from a “buy” rating to a “neutral” rating in a research report on Monday, April 29th. JMP Securities upped their target price on shares of Acrivon Therapeutics from $14.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Thursday, April 25th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $25.00 target price on shares of Acrivon Therapeutics in a research report on Wednesday, May 15th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.57.

Acrivon Therapeutics Stock Up 1.0 %

The firm’s 50-day simple moving average is $7.80 and its 200-day simple moving average is $6.23. The firm has a market capitalization of $180.96 million, a PE ratio of -2.03 and a beta of 0.87.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its quarterly earnings results on Tuesday, May 14th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.16. On average, equities research analysts forecast that Acrivon Therapeutics, Inc. will post -2.47 earnings per share for the current year.

Insider Activity

In other news, major shareholder Perceptive Advisors Llc acquired 2,353,000 shares of the stock in a transaction dated Thursday, April 11th. The stock was purchased at an average cost of $8.50 per share, with a total value of $20,000,500.00. Following the completion of the purchase, the insider now owns 5,360,858 shares in the company, valued at approximately $45,567,293. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Acrivon Therapeutics

A number of institutional investors have recently bought and sold shares of ACRV. American International Group Inc. raised its stake in Acrivon Therapeutics by 39.2% in the first quarter. American International Group Inc. now owns 6,016 shares of the company’s stock worth $43,000 after buying an additional 1,695 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in Acrivon Therapeutics by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 13,289 shares of the company’s stock worth $65,000 after purchasing an additional 3,370 shares during the period. Baker BROS. Advisors LP purchased a new stake in Acrivon Therapeutics in the first quarter worth about $378,000. Finally, 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 worth $3,626,000 after purchasing an additional 31,208 shares during the period. 71.62% of the stock is owned by institutional investors.

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.