Piper Sandler Companies Reiterates Buy Rating for Acrivon Therapeutics (NASDAQ:ACRV)

Acrivon Therapeutics (NASDAQ:ACRV)‘s stock had its “buy” rating reissued by Piper Sandler Companies in a research report issued on Friday, Stock Target Advisor reports. They currently have a $30.00 price objective on the stock. Piper Sandler Companies’ target price points to a potential upside of 271.29% from the company’s previous close.

Several other analysts have also recently weighed in on ACRV. BMO Capital Markets reissued an “outperform” rating and issued a $25.00 price objective on shares of Acrivon Therapeutics in a research note on Wednesday, May 15th. HC Wainwright reiterated a “buy” rating and issued a $22.00 price target on shares of Acrivon Therapeutics in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.14.

Acrivon Therapeutics Stock Up 0.2 %

Shares of ACRV stock opened at $8.08 on Friday. Acrivon Therapeutics has a twelve month low of $3.19 and a twelve month high of $12.09. The stock’s fifty day simple moving average is $7.89 and its 200 day simple moving average is $7.46. The firm has a market capitalization of $249.49 million, a P/E ratio of -2.81 and a beta of 0.81.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased 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 in the last quarter. American International Group Inc. boosted its stake in Acrivon Therapeutics by 39.2% during the first quarter. American International Group Inc. now owns 6,016 shares of the company’s stock worth $43,000 after acquiring an additional 1,695 shares in the last quarter. Baker BROS. Advisors LP acquired a new stake in Acrivon Therapeutics in the first quarter worth $378,000. Bank of New York Mellon Corp increased its stake 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 in the last quarter. Finally, Rhumbline Advisers boosted 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 worth $94,000 after purchasing an additional 5,320 shares in the last quarter. 71.62% of the stock is owned by institutional investors and hedge funds.

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.