Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Given Consensus Recommendation of "Buy" by Brokerages

Acrivon Therapeutics, Inc. (NASDAQ:ACRV - Get Free Report) has been assigned an average rating of "Buy" from the six brokerages that are currently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have covered the stock in the last year is $23.67.

A number of research analysts have commented on ACRV shares. BMO Capital Markets cut 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 note on Thursday, November 14th. HC Wainwright reiterated a "buy" rating and issued a $22.00 target price on shares of Acrivon Therapeutics in a research note on Thursday, November 14th.

Institutional Trading of Acrivon Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Perceptive Advisors LLC increased its holdings in shares of Acrivon Therapeutics by 78.2% in the second quarter. Perceptive Advisors LLC now owns 5,360,858 shares of the company's stock valued at $31,093,000 after purchasing an additional 2,353,000 shares in the last quarter. Barclays PLC increased its holdings in shares of 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 in the last quarter. State Street Corp increased its holdings in shares of Acrivon Therapeutics by 26.4% in the third quarter. State Street Corp now owns 225,896 shares of the company's stock valued at $1,581,000 after purchasing an additional 47,233 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Acrivon Therapeutics by 58.8% in the second quarter. Marshall Wace LLP now owns 948,866 shares of the company's stock valued at $5,503,000 after purchasing an additional 351,397 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Acrivon Therapeutics during the 2nd quarter worth $61,000. Institutional investors and hedge funds own 71.62% of the company's stock.

Acrivon Therapeutics Stock Up 4.1 %

ACRV traded up $0.23 during midday trading on Monday, reaching $5.78. 79,300 shares of the company's stock were exchanged, compared to its average volume of 46,868. The firm has a market capitalization of $179.99 million, a price-to-earnings ratio of -2.14 and a beta of 0.77. Acrivon Therapeutics has a one year low of $3.19 and a one year high of $11.90. The business has a 50-day simple moving average of $6.64 and a two-hundred day simple moving average of $7.45.

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.