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

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

ACRV has been the subject of a number of recent research reports. BMO Capital Markets cut their price target on Acrivon Therapeutics from $28.00 to $27.00 and set an "outperform" rating for the company in a research note on Thursday, November 14th. LADENBURG THALM/SH SH upgraded shares of 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. HC Wainwright restated a "buy" rating and set a $22.00 price target on shares of Acrivon Therapeutics in a research note on Thursday, November 14th. JMP Securities reaffirmed a "market outperform" rating and issued a $17.00 price objective on shares of Acrivon Therapeutics in a research note on Monday, September 16th. Finally, Piper Sandler Companies reissued a "buy" rating and set a $30.00 target price on shares of Acrivon Therapeutics in a research report on Friday, September 6th.

Acrivon Therapeutics Stock Performance

Shares of NASDAQ:ACRV traded down $0.04 during midday trading on Thursday, hitting $6.19. 26,616 shares of the stock were exchanged, compared to its average volume of 258,907. The company has a market capitalization of $192.73 million, a PE ratio of -2.29 and a beta of 0.55. Acrivon Therapeutics has a 52-week low of $3.19 and a 52-week high of $11.90. The business's fifty day simple moving average is $7.36 and its two-hundred day simple moving average is $7.51.

Institutional Trading of Acrivon Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers increased its holdings 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 purchasing an additional 5,320 shares during the period. Dimensional Fund Advisors LP bought a new position in Acrivon Therapeutics during the second quarter valued at about $58,000. XTX Topco Ltd acquired a new position in Acrivon Therapeutics in the 2nd quarter valued at approximately $61,000. Barclays PLC lifted its position in shares of Acrivon Therapeutics by 51.2% in the 3rd quarter. Barclays PLC now owns 33,306 shares of the company's stock worth $233,000 after acquiring an additional 11,273 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Acrivon Therapeutics by 50.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company's stock worth $212,000 after purchasing an additional 12,219 shares in the last quarter. Institutional investors and hedge funds 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.