HC Wainwright Has Lowered Expectations for Acrivon Therapeutics (NASDAQ:ACRV) Stock Price

Acrivon Therapeutics (NASDAQ:ACRV) had its target price decreased by equities research analysts at HC Wainwright from $22.00 to $19.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright also issued estimates for Acrivon Therapeutics’ FY2029 earnings at ($1.25) EPS.

Several other research analysts also recently commented on the stock. Cantor Fitzgerald assumed coverage on shares of Acrivon Therapeutics in a report on Friday, January 31st. They issued an “overweight” rating for the company. KeyCorp assumed coverage on Acrivon Therapeutics in a research note on Friday, January 31st. They set an “overweight” rating for the company. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $23.17.

Acrivon Therapeutics Stock Down 3.4 %

Shares of NASDAQ ACRV opened at $2.52 on Wednesday. The company has a market cap of $78.46 million, a P/E ratio of -0.93 and a beta of 0.85. Acrivon Therapeutics has a 52 week low of $2.44 and a 52 week high of $11.90. The business has a 50-day simple moving average of $5.42 and a two-hundred day simple moving average of $6.57.

Acrivon Therapeutics (NASDAQ:ACRV) last announced its quarterly earnings results on Thursday, March 27th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.06. Equities research analysts anticipate that Acrivon Therapeutics will post -2.49 EPS for the current year.

Institutional Trading of Acrivon Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Acorn Capital Advisors LLC bought a new position in Acrivon Therapeutics in the fourth quarter valued at $2,440,000. Exome Asset Management LLC purchased a new position in shares of Acrivon Therapeutics in the 3rd quarter worth about $817,000. State Street Corp increased its position in shares of Acrivon Therapeutics by 26.4% during the 3rd quarter. State Street Corp now owns 225,896 shares of the company’s stock valued at $1,581,000 after purchasing an additional 47,233 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Acrivon Therapeutics by 548.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,991 shares of the company’s stock valued at $238,000 after buying an additional 28,748 shares in the last quarter. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Acrivon Therapeutics by 29.7% in the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 102,784 shares of the company’s stock worth $619,000 after buying an additional 23,535 shares during the last quarter. 71.62% of the stock is owned by institutional investors.

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.