Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Receives Average Recommendation of "Buy" from Analysts

Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV - Get Free Report) have earned a consensus recommendation of "Buy" from the eight ratings firms that are covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $23.67.

ACRV has been the topic of several research analyst reports. Cantor Fitzgerald assumed coverage on Acrivon Therapeutics in a research note on Friday, January 31st. They set an "overweight" rating on the stock. KeyCorp began coverage on Acrivon Therapeutics in a research report on Friday, January 31st. They issued an "overweight" rating on the stock. BMO Capital Markets reduced their price target on shares of Acrivon Therapeutics from $28.00 to $27.00 and set an "outperform" rating for the company in a research report on Thursday, November 14th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $22.00 price objective on shares of Acrivon Therapeutics in a report on Thursday, November 14th.

Acrivon Therapeutics Stock Performance

ACRV traded up $0.06 during trading on Friday, hitting $5.42. The stock had a trading volume of 19,722 shares, compared to its average volume of 68,657. The stock has a 50 day simple moving average of $6.03 and a two-hundred day simple moving average of $7.15. Acrivon Therapeutics has a twelve month low of $3.34 and a twelve month high of $11.90. The company has a market capitalization of $168.78 million, a PE ratio of -2.01 and a beta of 0.77.

Hedge Funds Weigh In On Acrivon Therapeutics

A number of institutional investors have recently bought and sold shares of ACRV. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Acrivon Therapeutics during the 4th quarter worth approximately $40,000. Corton Capital Inc. purchased a new position in Acrivon Therapeutics in the fourth quarter worth approximately $73,000. American Century Companies Inc. increased its stake in Acrivon Therapeutics by 14.2% during the fourth quarter. American Century Companies Inc. now owns 17,588 shares of the company's stock worth $106,000 after acquiring an additional 2,186 shares during the last quarter. Barclays PLC raised its position in Acrivon Therapeutics by 51.2% in the third 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 period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Acrivon Therapeutics by 548.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,991 shares of the company's stock valued at $238,000 after purchasing an additional 28,748 shares during the last quarter. 71.62% of the stock is owned by hedge funds and other 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.