Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Receives Consensus Rating of “Buy” from Brokerages

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) has received a consensus rating of “Buy” from the six ratings firms that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have covered the stock in the last year is $23.83.

Several research analysts have recently issued reports on ACRV shares. Piper Sandler Companies reiterated a “buy” rating and issued a $30.00 target price on shares of Acrivon Therapeutics in a research note on Friday, September 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 price objective on shares of Acrivon Therapeutics in a research report on Monday, September 16th. LADENBURG THALM/SH SH raised Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a report on Monday, September 16th. BMO Capital Markets reaffirmed an “outperform” rating and set a $28.00 price target (up from $25.00) on shares of Acrivon Therapeutics in a report on Monday, September 16th. Finally, HC Wainwright reiterated a “buy” rating and issued a $22.00 price objective on shares of Acrivon Therapeutics in a report on Monday, September 16th.

Institutional Trading of Acrivon Therapeutics

A number of hedge funds have recently bought and sold shares of the company. American International Group Inc. grew its stake in shares of Acrivon Therapeutics by 39.2% during the 1st 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 shares of Acrivon Therapeutics in the second quarter worth approximately $58,000. XTX Topco Ltd bought a new stake in Acrivon Therapeutics during the second quarter valued at approximately $61,000. Rhumbline Advisers grew its position in Acrivon Therapeutics by 48.9% during the second quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock valued at $94,000 after buying an additional 5,320 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Acrivon Therapeutics by 50.1% during the second quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company’s stock valued at $212,000 after buying an additional 12,219 shares during the last quarter. Hedge funds and other institutional investors own 71.62% of the company’s stock.

Acrivon Therapeutics Stock Up 4.4 %

ACRV stock opened at $7.29 on Friday. The business has a 50 day moving average of $7.92 and a 200 day moving average of $7.86. Acrivon Therapeutics has a twelve month low of $3.19 and a twelve month high of $11.90. The firm has a market cap of $225.09 million, a PE ratio of -2.53 and a beta of 0.78.

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

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.