Acrivon Therapeutics (NASDAQ:ACRV) Given “Overweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Acrivon Therapeutics (NASDAQ:ACRV) in a research report released on Wednesday morning,Benzinga reports.

Several other research firms have also commented on ACRV. KeyCorp began coverage on Acrivon Therapeutics in a report on Friday, January 31st. They set an “overweight” rating on the stock. HC Wainwright cut their target price on shares of Acrivon Therapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $23.17.

Acrivon Therapeutics Stock Performance

NASDAQ:ACRV opened at $2.61 on Wednesday. The firm’s fifty day moving average is $5.48 and its two-hundred day moving average is $6.60. The firm has a market cap of $81.26 million, a price-to-earnings ratio of -0.97 and a beta of 0.85. Acrivon Therapeutics has a one year low of $2.51 and a one year high of $11.90.

Institutional Investors Weigh In On Acrivon Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. grew its position in shares of Acrivon Therapeutics by 14.2% in the fourth quarter. American Century Companies Inc. now owns 17,588 shares of the company’s stock valued at $106,000 after purchasing an additional 2,186 shares during the period. Renaissance Technologies LLC boosted its holdings in Acrivon Therapeutics by 7.6% in the 4th quarter. Renaissance Technologies LLC now owns 49,400 shares of the company’s stock worth $297,000 after buying an additional 3,500 shares during the last quarter. Barclays PLC raised its holdings in shares of Acrivon Therapeutics by 14.4% during the fourth quarter. Barclays PLC now owns 38,091 shares of the company’s stock valued at $228,000 after acquiring an additional 4,785 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Acrivon Therapeutics by 20.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 37,063 shares of the company’s stock valued at $223,000 after acquiring an additional 6,239 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of Acrivon Therapeutics in the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 71.62% of the company’s stock.

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.