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

Acrivon Therapeutics, Inc. (NASDAQ:ACRV - Get Free Report) has earned an average recommendation of "Buy" from the six ratings firms that are covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $23.83.

Several analysts have recently commented on ACRV shares. HC Wainwright reaffirmed a "buy" rating and set a $22.00 price target on shares of Acrivon Therapeutics in a research report on Monday, September 16th. JMP Securities reiterated a "market outperform" rating and issued a $17.00 target price on shares of Acrivon Therapeutics in a report on Monday, September 16th. Piper Sandler Companies restated a "buy" rating and set a $30.00 price target on shares of Acrivon Therapeutics in a research report on Friday, September 6th. LADENBURG THALM/SH SH raised shares of Acrivon Therapeutics from a "neutral" rating to a "buy" rating and set a $16.00 price objective for the company in a research note on Monday, September 16th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $28.00 target price (up from $25.00) on shares of Acrivon Therapeutics in a research note on Monday, September 16th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Acrivon Therapeutics by 6.6% in the first quarter. Vanguard Group Inc. now owns 507,185 shares of the company's stock valued at $3,626,000 after acquiring an additional 31,208 shares during the last quarter. American International Group Inc. increased 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 buying an additional 1,695 shares during the period. Baker BROS. Advisors LP purchased a new position in shares of Acrivon Therapeutics during the first quarter worth approximately $378,000. Bank of New York Mellon Corp increased its holdings in shares of Acrivon Therapeutics by 50.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company's stock valued at $212,000 after acquiring an additional 12,219 shares during the period. Finally, Rhumbline Advisers raised its holdings in shares of Acrivon Therapeutics by 48.9% in the second quarter. Rhumbline Advisers now owns 16,209 shares of the company's stock valued at $94,000 after buying an additional 5,320 shares during the last quarter. Hedge funds and other institutional investors own 71.62% of the company's stock.

Acrivon Therapeutics Stock Up 4.9 %

Shares of ACRV stock traded up $0.38 during mid-day trading on Wednesday, hitting $8.21. 53,445 shares of the stock were exchanged, compared to its average volume of 290,563. The firm has a fifty day moving average of $7.90 and a 200 day moving average of $7.83. Acrivon Therapeutics has a 52-week low of $3.19 and a 52-week high of $11.90. The company has a market cap of $254.26 million, a PE ratio of -2.83 and a beta of 0.66.

Acrivon Therapeutics (NASDAQ:ACRV - Get Free Report) last released its earnings results on Tuesday, August 13th. The company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.08. Equities analysts predict that Acrivon Therapeutics will post -2.4 EPS for the current year.

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.