Acrivon Therapeutics (NASDAQ:ACRV) Receives “Outperform” Rating from BMO Capital Markets

BMO Capital Markets reaffirmed their outperform rating on shares of Acrivon Therapeutics (NASDAQ:ACRV) in a research note released on Monday morning, Benzinga reports. The brokerage currently has a $28.00 price objective on the stock, up from their previous price objective of $25.00.

A number of other research firms have also weighed in on ACRV. LADENBURG THALM/SH SH upgraded 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. Piper Sandler Companies restated a buy rating and set a $30.00 price objective on shares of Acrivon Therapeutics in a research note on Friday, September 6th. Finally, HC Wainwright reiterated a buy rating and issued a $22.00 target price on shares of Acrivon Therapeutics in a research note on Monday. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of Buy and an average price target of $23.86.

Acrivon Therapeutics Price Performance

NASDAQ:ACRV opened at $8.23 on Monday. Acrivon Therapeutics has a 1-year low of $3.19 and a 1-year high of $11.90. The company has a 50-day moving average of $8.17 and a 200 day moving average of $7.67. The firm has a market cap of $254.12 million, a PE ratio of -2.86 and a beta of 0.81.

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

Institutional Trading of Acrivon Therapeutics

Large investors have recently bought and sold shares of the stock. American International Group Inc. grew its holdings in shares of Acrivon Therapeutics by 39.2% during the first quarter. American International Group Inc. now owns 6,016 shares of the company’s stock valued at $43,000 after buying an additional 1,695 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in Acrivon Therapeutics during the 2nd quarter worth approximately $58,000. XTX Topco Ltd acquired a new stake in Acrivon Therapeutics during the 2nd quarter worth about $61,000. Rhumbline Advisers raised its stake in shares of Acrivon Therapeutics by 48.9% during the 2nd 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 last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of 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 worth $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 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.