Acrivon Therapeutics (NASDAQ:ACRV) Price Target Cut to $27.00 by Analysts at BMO Capital Markets

Acrivon Therapeutics (NASDAQ:ACRV - Get Free Report) had its price objective lowered by stock analysts at BMO Capital Markets from $28.00 to $27.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the stock. BMO Capital Markets' price target indicates a potential upside of 240.91% from the company's previous close.

A number of other equities research analysts have also weighed in on ACRV. HC Wainwright reaffirmed a "buy" rating and set a $22.00 target price on shares of Acrivon Therapeutics in a research report on Thursday. JMP Securities reissued a "market outperform" rating and issued a $17.00 price objective 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 target price on the stock in a research report on Monday, September 16th. Finally, Piper Sandler Companies restated a "buy" rating and issued a $30.00 price objective on shares of Acrivon Therapeutics in a research note on Friday, September 6th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Acrivon Therapeutics has an average rating of "Buy" and a consensus price target of $23.67.

Acrivon Therapeutics Price Performance

Shares of ACRV stock traded down $0.01 during mid-day trading on Thursday, hitting $7.92. The company had a trading volume of 40,037 shares, compared to its average volume of 284,163. The stock's 50 day moving average price is $7.80 and its 200-day moving average price is $7.81. Acrivon Therapeutics has a 52-week low of $3.19 and a 52-week high of $11.90. The company has a market capitalization of $245.28 million, a P/E ratio of -2.86 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) EPS for the quarter, beating analysts' consensus estimates of ($0.60) by $0.08. On average, equities research analysts expect that Acrivon Therapeutics will post -2.4 earnings per share for the current year.

Institutional Investors Weigh In On Acrivon Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. American International Group Inc. increased its stake in Acrivon Therapeutics by 39.2% in the first quarter. American International Group Inc. now owns 6,016 shares of the company's stock valued at $43,000 after purchasing an additional 1,695 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in Acrivon Therapeutics during the 2nd quarter worth approximately $58,000. XTX Topco Ltd acquired a new stake in Acrivon Therapeutics during the second quarter valued at approximately $61,000. Rhumbline Advisers boosted its holdings in Acrivon Therapeutics by 48.9% in the second 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. Finally, Bank of New York Mellon Corp lifted its stake in Acrivon Therapeutics by 50.1% in the second quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company's stock valued at $212,000 after buying an additional 12,219 shares during the last quarter. 71.62% of the stock is currently 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.