Equities Analysts Issue Forecasts for Acrivon Therapeutics, Inc.’s Q1 2024 Earnings (NASDAQ:ACRV)

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) – Equities researchers at HC Wainwright cut their Q1 2024 EPS estimates for shares of Acrivon Therapeutics in a research note issued to investors on Tuesday, April 9th. HC Wainwright analyst E. Bodnar now forecasts that the company will post earnings of ($0.89) per share for the quarter, down from their prior forecast of ($0.88). HC Wainwright currently has a “Buy” rating and a $20.00 price target on the stock. The consensus estimate for Acrivon Therapeutics’ current full-year earnings is ($3.51) per share. HC Wainwright also issued estimates for Acrivon Therapeutics’ Q2 2024 earnings at ($0.58) EPS, Q3 2024 earnings at ($0.57) EPS, Q4 2024 earnings at ($0.59) EPS, FY2024 earnings at ($2.63) EPS, FY2025 earnings at ($3.18) EPS, FY2026 earnings at ($3.00) EPS, FY2027 earnings at ($1.65) EPS and FY2028 earnings at ($1.04) EPS.

Several other research firms also recently weighed in on ACRV. BMO Capital Markets restated an “outperform” rating and set a $18.00 price objective on shares of Acrivon Therapeutics in a report on Monday, April 1st. JMP Securities restated a “market outperform” rating and set a $14.00 price target on shares of Acrivon Therapeutics in a research report on Monday, April 1st. Finally, LADENBURG THALM/SH SH reduced their price target on shares of Acrivon Therapeutics from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, Acrivon Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $20.14.

Acrivon Therapeutics Stock Down 10.6 %

Acrivon Therapeutics stock opened at $9.29 on Friday. The firm’s fifty day moving average is $5.36 and its 200 day moving average is $5.29. Acrivon Therapeutics has a 12-month low of $3.19 and a 12-month high of $14.30. The company has a market capitalization of $210.33 million, a PE ratio of -3.40 and a beta of 1.94.

Hedge Funds Weigh In On Acrivon Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN boosted its position in Acrivon Therapeutics by 108.1% during the second quarter. Wells Fargo & Company MN now owns 3,305 shares of the company’s stock worth $43,000 after purchasing an additional 1,717 shares during the period. Bank of New York Mellon Corp boosted its position in Acrivon Therapeutics by 8.6% during the second quarter. Bank of New York Mellon Corp now owns 24,795 shares of the company’s stock worth $321,000 after purchasing an additional 1,958 shares during the period. New York State Common Retirement Fund bought a new position in Acrivon Therapeutics during the first quarter worth about $28,000. Citigroup Inc. boosted its position in Acrivon Therapeutics by 1,281.2% during the second quarter. Citigroup Inc. now owns 2,790 shares of the company’s stock worth $36,000 after purchasing an additional 2,588 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Acrivon Therapeutics by 4.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 60,958 shares of the company’s stock worth $790,000 after purchasing an additional 2,749 shares during the period. 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.