HC Wainwright Issues Pessimistic Forecast for ACRV Earnings

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) – Equities research analysts at HC Wainwright cut their FY2024 EPS estimates for Acrivon Therapeutics in a note issued to investors on Wednesday, November 13th. HC Wainwright analyst E. Bodnar now anticipates that the company will post earnings per share of ($2.45) for the year, down from their previous estimate of ($2.31). HC Wainwright currently has a “Buy” rating and a $22.00 price target on the stock. The consensus estimate for Acrivon Therapeutics’ current full-year earnings is ($2.45) per share. HC Wainwright also issued estimates for Acrivon Therapeutics’ Q4 2024 earnings at ($0.61) EPS, FY2025 earnings at ($3.43) EPS, FY2026 earnings at ($3.40) EPS, FY2027 earnings at ($2.23) EPS and FY2028 earnings at ($1.49) EPS.

ACRV has been the topic of a number of other research reports. JMP Securities restated a “market outperform” rating and issued a $17.00 price objective on shares of Acrivon Therapeutics in a report on Monday, September 16th. BMO Capital Markets decreased their target price on Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday. Piper Sandler Companies reaffirmed a “buy” rating and issued a $30.00 price target on shares of Acrivon Therapeutics in a report on Friday, September 6th. Finally, 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 research note on Monday, September 16th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Acrivon Therapeutics currently has an average rating of “Buy” and a consensus target price of $23.67.

Acrivon Therapeutics Trading Down 12.1 %

Shares of NASDAQ:ACRV opened at $6.96 on Monday. The firm has a market cap of $216.73 million, a price-to-earnings ratio of -2.58 and a beta of 0.66. Acrivon Therapeutics has a 1 year low of $3.19 and a 1 year high of $11.90. The business has a fifty day simple moving average of $7.78 and a 200 day simple moving average of $7.77.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ACRV. American International Group Inc. raised its position in Acrivon Therapeutics by 39.2% during the first quarter. American International Group Inc. now owns 6,016 shares of the company’s stock worth $43,000 after acquiring an additional 1,695 shares in the last quarter. Rhumbline Advisers boosted 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 worth $94,000 after acquiring an additional 5,320 shares during the period. Dimensional Fund Advisors LP acquired a new position in shares of Acrivon Therapeutics during the 2nd quarter worth approximately $58,000. XTX Topco Ltd bought a new stake in Acrivon Therapeutics in the 2nd quarter valued at $61,000. Finally, Barclays PLC lifted its holdings in Acrivon Therapeutics by 51.2% during the 3rd quarter. Barclays PLC now owns 33,306 shares of the company’s stock valued at $233,000 after purchasing an additional 11,273 shares during the last quarter. 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.