Acrivon Therapeutics’ (ACRV) “Market Outperform” Rating Reaffirmed at JMP Securities

Acrivon Therapeutics (NASDAQ:ACRV)‘s stock had its “market outperform” rating reaffirmed by research analysts at JMP Securities in a research note issued on Monday, Benzinga reports. They presently have a $17.00 price target on the stock. JMP Securities’ price target would suggest a potential upside of 123.68% from the stock’s previous close.

ACRV has been the topic of a number of other research reports. LADENBURG THALM/SH SH raised shares of Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Monday. HC Wainwright reissued a “buy” rating and set a $22.00 target price on shares of Acrivon Therapeutics in a report on Monday. Piper Sandler Companies reissued a “buy” rating and set a $30.00 target price on shares of Acrivon Therapeutics in a report on Friday, September 6th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $28.00 target price (up previously from $25.00) on shares of Acrivon Therapeutics in a report on Monday. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Acrivon Therapeutics has a consensus rating of “Buy” and a consensus price target of $23.86.

Acrivon Therapeutics Trading Down 7.7 %

Acrivon Therapeutics stock opened at $7.60 on Monday. Acrivon Therapeutics has a 12 month low of $3.19 and a 12 month high of $11.90. The business’s 50 day simple moving average is $8.17 and its 200 day simple moving average is $7.67. The company has a market cap of $234.67 million, a price-to-earnings ratio of -2.64 and a beta of 0.81.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ACRV. Vanguard Group Inc. increased its holdings in shares of 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. American International Group Inc. increased its holdings 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 worth $43,000 after purchasing an additional 1,695 shares during the period. Baker BROS. Advisors LP bought a new position in shares of 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 acquiring an additional 12,219 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Acrivon Therapeutics by 48.9% in the second 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 last quarter. Institutional investors 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.