Acrivon Therapeutics (NASDAQ:ACRV) Rating Increased to Buy at LADENBURG THALM/SH SH

Acrivon Therapeutics (NASDAQ:ACRV) was upgraded by analysts at LADENBURG THALM/SH SH from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, Marketbeat.com reports. The firm currently has a $16.00 target price on the stock. LADENBURG THALM/SH SH’s price objective indicates a potential upside of 110.53% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Piper Sandler Companies reiterated a “buy” rating and issued a $30.00 target price on shares of Acrivon Therapeutics in a report on Friday, September 6th. HC Wainwright reissued a “buy” rating and issued a $22.00 price objective on shares of Acrivon Therapeutics in a research note on Tuesday, August 13th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Acrivon Therapeutics currently has a consensus rating of “Buy” and an average price target of $23.86.

Acrivon Therapeutics Price Performance

Shares of ACRV opened at $7.60 on Monday. The company has a market capitalization of $234.67 million, a price-to-earnings ratio of -2.64 and a beta of 0.81. The business has a 50-day moving average of $8.17 and a 200-day moving average of $7.67. Acrivon Therapeutics has a 1 year low of $3.19 and a 1 year high of $11.90.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its earnings results on Tuesday, August 13th. The company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.08. As a group, sell-side analysts anticipate that Acrivon Therapeutics will post -2.4 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. American International Group Inc. boosted its position 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. Rhumbline Advisers boosted its position in shares of 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 last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Acrivon Therapeutics during the second quarter valued at approximately $58,000. XTX Topco Ltd purchased a new position in shares of Acrivon Therapeutics during the second quarter valued at approximately $61,000. Finally, Bank of New York Mellon Corp boosted its position in shares of 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.

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.