Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Receives Consensus Recommendation of “Buy” from Brokerages

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) has earned a consensus rating of “Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. Eight investment analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have covered the stock in the last year is $22.63.

ACRV has been the topic of several research analyst reports. JMP Securities raised their price target on Acrivon Therapeutics from $14.00 to $17.00 and gave the company a “market outperform” rating in a research report on Thursday. BMO Capital Markets lifted their target price on Acrivon Therapeutics from $18.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday. LADENBURG THALM/SH SH decreased their target price on Acrivon Therapeutics from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Piper Sandler lifted their target price on Acrivon Therapeutics from $26.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Acrivon Therapeutics in a research report on Thursday.

Insider Buying and Selling at Acrivon Therapeutics

In related news, major shareholder Perceptive Advisors Llc acquired 2,353,000 shares of the firm’s stock in a transaction on Thursday, April 11th. The shares were bought at an average cost of $8.50 per share, with a total value of $20,000,500.00. Following the completion of the acquisition, the insider now owns 5,360,858 shares of the company’s stock, valued at $45,567,293. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On Acrivon Therapeutics

A hedge fund recently raised its stake in Acrivon Therapeutics stock. Exchange Traded Concepts LLC grew its position in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,289 shares of the company’s stock after acquiring an additional 3,370 shares during the period. Exchange Traded Concepts LLC owned 0.06% of Acrivon Therapeutics worth $65,000 at the end of the most recent reporting period. 71.62% of the stock is owned by institutional investors and hedge funds.

Acrivon Therapeutics Stock Performance

Shares of NASDAQ:ACRV opened at $8.46 on Friday. The company has a market cap of $191.53 million, a P/E ratio of -3.10 and a beta of 1.94. The stock’s 50-day moving average is $6.65 and its 200-day moving average is $5.37. Acrivon Therapeutics has a 52-week low of $3.19 and a 52-week high of $14.30.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its quarterly earnings results on Thursday, March 28th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.14). As a group, equities analysts predict that Acrivon Therapeutics will post -3.3 EPS for the current year.

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.