HC Wainwright Issues Pessimistic Outlook for ACRV Earnings

Acrivon Therapeutics, Inc. (NASDAQ:ACRV - Free Report) - HC Wainwright reduced their FY2024 earnings estimates for shares of Acrivon Therapeutics in a research note issued on Wednesday, November 13th. HC Wainwright analyst E. Bodnar now anticipates that the company will earn ($2.45) per share for the year, down from their prior forecast of ($2.31). HC Wainwright currently has a "Buy" rating and a $22.00 target price on the stock. The consensus estimate for Acrivon Therapeutics' current full-year earnings is ($2.45) per share. HC Wainwright also issued estimates for Acrivon Therapeutics' Q4 2024 earnings at ($0.61) EPS, FY2025 earnings at ($3.43) EPS, FY2026 earnings at ($3.40) EPS, FY2027 earnings at ($2.23) EPS and FY2028 earnings at ($1.49) EPS.

A number of other analysts also recently commented on ACRV. LADENBURG THALM/SH SH upgraded Acrivon Therapeutics from a "neutral" rating to a "buy" rating and set a $16.00 price objective for the company in a report on Monday, September 16th. BMO Capital Markets cut their price objective on Acrivon Therapeutics from $28.00 to $27.00 and set an "outperform" rating on the stock in a report on Thursday. JMP Securities reissued a "market outperform" rating and set a $17.00 target price on shares of Acrivon Therapeutics in a research report on Monday, September 16th. Finally, Piper Sandler Companies reaffirmed a "buy" rating and set a $30.00 price target on shares of Acrivon Therapeutics in a research report on Friday, September 6th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $23.67.

Acrivon Therapeutics Price Performance

ACRV stock traded down $0.69 on Monday, hitting $6.27. 71,222 shares of the company were exchanged, compared to its average volume of 282,442. The stock has a market capitalization of $195.25 million, a price-to-earnings ratio of -2.32 and a beta of 0.66. The business's fifty day moving average is $7.75 and its two-hundred day moving average is $7.76. Acrivon Therapeutics has a twelve month low of $3.19 and a twelve month high of $11.90.

Hedge Funds Weigh In On Acrivon Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Perceptive Advisors LLC lifted its position in shares of Acrivon Therapeutics by 78.2% during the second quarter. Perceptive Advisors LLC now owns 5,360,858 shares of the company's stock worth $31,093,000 after purchasing an additional 2,353,000 shares in the last quarter. Sands Capital Ventures LLC lifted its holdings in Acrivon Therapeutics by 28.4% in the 2nd quarter. Sands Capital Ventures LLC now owns 2,122,605 shares of the company's stock worth $12,311,000 after buying an additional 470,000 shares in the last quarter. Marshall Wace LLP boosted its position in Acrivon Therapeutics by 58.8% in the 2nd quarter. Marshall Wace LLP now owns 948,866 shares of the company's stock valued at $5,503,000 after buying an additional 351,397 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Acrivon Therapeutics by 6.6% during 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 in the last quarter. Finally, State Street Corp increased its position in shares of Acrivon Therapeutics by 26.4% during the third quarter. State Street Corp now owns 225,896 shares of the company's stock worth $1,581,000 after acquiring an additional 47,233 shares during the last quarter. Hedge funds and other institutional investors own 71.62% of the company's stock.

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.