Acrivon Therapeutics (NASDAQ:ACRV) Coverage Initiated at Cantor Fitzgerald

Stock analysts at Cantor Fitzgerald started coverage on shares of Acrivon Therapeutics (NASDAQ:ACRV - Get Free Report) in a research note issued on Friday, Marketbeat.com reports. The firm set an "overweight" rating on the stock.

A number of other equities analysts have also issued reports on the company. BMO Capital Markets cut their target price on Acrivon Therapeutics from $28.00 to $27.00 and set an "outperform" rating on the stock in a research report on Thursday, November 14th. KeyCorp started coverage on Acrivon Therapeutics in a report on Friday. They issued an "overweight" rating on the stock. Finally, HC Wainwright reissued a "buy" rating and set a $22.00 price target on shares of Acrivon Therapeutics in a report on Thursday, November 14th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $23.67.

Acrivon Therapeutics Price Performance

Acrivon Therapeutics stock traded up $0.34 during midday trading on Friday, hitting $5.91. 23,538 shares of the company were exchanged, compared to its average volume of 35,622. The company has a market cap of $184.04 million, a PE ratio of -2.19 and a beta of 0.77. Acrivon Therapeutics has a fifty-two week low of $3.19 and a fifty-two week high of $11.90. The company's fifty day moving average price is $6.31 and its 200-day moving average price is $7.32.

Hedge Funds Weigh In On Acrivon Therapeutics

Large investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. bought a new position in Acrivon Therapeutics during the fourth quarter valued at about $40,000. Dimensional Fund Advisors LP bought a new position in shares of Acrivon Therapeutics during the 2nd quarter valued at about $58,000. Barclays PLC grew its stake 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 purchasing an additional 11,273 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Acrivon Therapeutics by 548.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,991 shares of the company's stock worth $238,000 after purchasing an additional 28,748 shares in the last quarter. Finally, State Street Corp lifted its stake in Acrivon Therapeutics by 26.4% during 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 during 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.