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

Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) have received an average rating of “Buy” from the six analysts that are covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have covered the stock in the last year is $23.67.

ACRV has been the subject of several analyst reports. LADENBURG THALM/SH SH upgraded shares of 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. HC Wainwright reiterated a “buy” rating and issued a $22.00 price target on shares of Acrivon Therapeutics in a report on Thursday, November 14th. BMO Capital Markets decreased their price objective on shares of Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Thursday, November 14th. Piper Sandler Companies reissued a “buy” rating and set a $30.00 price target on shares of Acrivon Therapeutics in a research report on Friday, September 6th. Finally, JMP Securities reissued a “market outperform” rating and set a $17.00 price objective on shares of Acrivon Therapeutics in a report on Monday, September 16th.

Acrivon Therapeutics Price Performance

NASDAQ:ACRV opened at $6.23 on Thursday. The firm has a market capitalization of $193.98 million, a price-to-earnings ratio of -2.31 and a beta of 0.55. The business has a 50 day simple moving average of $7.39 and a 200-day simple moving average of $7.52. Acrivon Therapeutics has a 1 year low of $3.19 and a 1 year high of $11.90.

Institutional Investors Weigh In On Acrivon Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP acquired a new stake in Acrivon Therapeutics in the 2nd quarter worth approximately $58,000. XTX Topco Ltd purchased a new stake in shares of Acrivon Therapeutics during the second quarter valued at $61,000. Rhumbline Advisers increased its position in shares of 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 raised its stake 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 worth $212,000 after acquiring an additional 12,219 shares during the last quarter. Finally, Barclays PLC lifted its position in Acrivon Therapeutics by 51.2% during the 3rd quarter. Barclays PLC now owns 33,306 shares of the company’s stock worth $233,000 after acquiring an additional 11,273 shares during the period. Institutional investors and hedge funds 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.