Acrivon Therapeutics (NASDAQ:ACRV) Earns "Overweight" Rating from Cantor Fitzgerald

Acrivon Therapeutics (NASDAQ:ACRV - Get Free Report)'s stock had its "overweight" rating reissued by research analysts at Cantor Fitzgerald in a research note issued to investors on Wednesday,Benzinga reports.

Several other equities research analysts have also commented on ACRV. HC Wainwright reduced their price target on shares of Acrivon Therapeutics from $22.00 to $19.00 and set a "buy" rating for the company in a report on Wednesday. KeyCorp assumed coverage on shares of Acrivon Therapeutics in a research note on Friday, January 31st. They issued an "overweight" rating for the company. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $23.17.

Acrivon Therapeutics Trading Down 11.1 %

Shares of NASDAQ ACRV traded down $0.28 during trading hours on Wednesday, reaching $2.24. The stock had a trading volume of 434,076 shares, compared to its average volume of 262,128. The business's fifty day moving average price is $5.35 and its two-hundred day moving average price is $6.52. The firm has a market cap of $69.74 million, a price-to-earnings ratio of -0.83 and a beta of 0.85. Acrivon Therapeutics has a 52-week low of $2.14 and a 52-week high of $11.90.

Acrivon Therapeutics (NASDAQ:ACRV - Get Free Report) last issued its earnings results on Thursday, March 27th. The company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.09. Equities research analysts anticipate that Acrivon Therapeutics will post -2.49 earnings per share for the current fiscal year.

Remove Ads

Hedge Funds Weigh In On Acrivon Therapeutics

A number of large investors have recently made changes to their positions in the business. Wealthedge Investment Advisors LLC acquired a new stake in shares of Acrivon Therapeutics in the 4th quarter worth $65,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Acrivon Therapeutics by 29.7% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 102,784 shares of the company's stock worth $619,000 after acquiring an additional 23,535 shares in the last quarter. Corton Capital Inc. purchased a new stake in shares of Acrivon Therapeutics during the fourth quarter worth about $73,000. Acorn Capital Advisors LLC acquired a new position in shares of Acrivon Therapeutics during the fourth quarter valued at about $2,440,000. Finally, Northern Trust Corp raised its position in shares of Acrivon Therapeutics by 11.3% in the 4th quarter. Northern Trust Corp now owns 117,323 shares of the company's stock valued at $706,000 after purchasing an additional 11,925 shares during the last quarter. 71.62% of the stock is owned by institutional investors and hedge funds.

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.