Acrivon Therapeutics (NASDAQ:ACRV) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Acrivon Therapeutics (NASDAQ:ACRV - Free Report) in a research report released on Thursday, Marketbeat Ratings reports. They currently have a $22.00 price target on the stock.

Several other research firms also recently issued reports on ACRV. JMP Securities reissued a "market outperform" rating and issued a $17.00 price target on shares of Acrivon Therapeutics in a research report on Monday, September 16th. LADENBURG THALM/SH SH raised shares of Acrivon Therapeutics from a "neutral" rating to a "buy" rating and set a $16.00 price objective on the stock in a report on Monday, September 16th. Piper Sandler Companies reaffirmed a "buy" rating and set a $30.00 price objective on shares of Acrivon Therapeutics in a report on Friday, September 6th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $28.00 price objective (up from $25.00) on shares of Acrivon Therapeutics in a report on Monday, September 16th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Acrivon Therapeutics has an average rating of "Buy" and an average price target of $23.67.

Acrivon Therapeutics Price Performance

Shares of NASDAQ:ACRV traded down $0.01 during mid-day trading on Thursday, hitting $7.92. The company had a trading volume of 39,503 shares, compared to its average volume of 284,160. The firm has a fifty day moving average price of $7.81 and a 200 day moving average price of $7.81. The company has a market capitalization of $245.28 million, a PE ratio of -2.86 and a beta of 0.66. Acrivon Therapeutics has a one year low of $3.19 and a one year high of $11.90.

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

Hedge Funds Weigh In On Acrivon Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in ACRV. Vanguard Group Inc. boosted its holdings in shares of Acrivon Therapeutics by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 507,185 shares of the company's stock worth $3,626,000 after buying an additional 31,208 shares during the last quarter. American International Group Inc. boosted its holdings in shares of Acrivon Therapeutics by 39.2% in the 1st 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 last quarter. Baker BROS. Advisors LP purchased a new position in shares of Acrivon Therapeutics in the 1st quarter worth about $378,000. Bank of New York Mellon Corp boosted 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 worth $212,000 after buying an additional 12,219 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Acrivon Therapeutics by 48.9% in the 2nd quarter. Rhumbline Advisers now owns 16,209 shares of the company's stock worth $94,000 after buying an additional 5,320 shares during the last quarter. 71.62% of the stock is owned by hedge funds and other institutional investors.

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.