HC Wainwright Reiterates Buy Rating for Acrivon Therapeutics (NASDAQ:ACRV)

HC Wainwright reissued their buy rating on shares of Acrivon Therapeutics (NASDAQ:ACRV) in a report issued on Thursday morning, Benzinga reports. HC Wainwright currently has a $20.00 price target on the stock.

Other analysts have also recently issued reports about the stock. JMP Securities reaffirmed a market outperform rating and issued a $14.00 target price on shares of Acrivon Therapeutics in a research note on Monday, April 1st. LADENBURG THALM/SH SH lowered their target price on shares of Acrivon Therapeutics from $18.00 to $14.00 and set a buy rating for the company in a research note on Friday, April 5th. Finally, BMO Capital Markets reaffirmed an outperform rating and issued a $18.00 target price on shares of Acrivon Therapeutics in a research note on Monday, April 1st. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of Buy and a consensus target price of $22.63.

Acrivon Therapeutics Price Performance

Shares of ACRV opened at $8.46 on Thursday. The firm has a 50 day simple moving average of $6.65 and a 200-day simple moving average of $5.35. Acrivon Therapeutics has a 1-year low of $3.19 and a 1-year high of $14.30. The stock has a market cap of $191.53 million, a price-to-earnings ratio of -3.10 and a beta of 1.94.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its quarterly earnings data on Thursday, March 28th. The company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.14). On average, equities analysts expect that Acrivon Therapeutics will post -3.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Acrivon Therapeutics

In related news, major shareholder Perceptive Advisors Llc purchased 2,353,000 shares of the firm’s stock in a transaction on Thursday, April 11th. The shares were bought at an average price of $8.50 per share, for a total transaction of $20,000,500.00. Following the acquisition, the insider now directly owns 5,360,858 shares in the company, valued at $45,567,293. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Acrivon Therapeutics

A hedge fund recently raised its stake in Acrivon Therapeutics stock. Exchange Traded Concepts LLC lifted its holdings in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,289 shares of the company’s stock after acquiring an additional 3,370 shares during the quarter. Exchange Traded Concepts LLC owned about 0.06% of Acrivon Therapeutics worth $65,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds 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.