Analysts Issue Forecasts for Acrivon Therapeutics, Inc.'s Q1 2024 Earnings (NASDAQ:ACRV)

Acrivon Therapeutics, Inc. (NASDAQ:ACRV - Free Report) - Equities research analysts at HC Wainwright dropped their Q1 2024 earnings estimates for Acrivon Therapeutics in a research report issued on Tuesday, April 9th. HC Wainwright analyst E. Bodnar now forecasts that the company will post earnings of ($0.89) per share for the quarter, down from their prior estimate of ($0.88). HC Wainwright currently has a "Buy" rating and a $20.00 price target on the stock. The consensus estimate for Acrivon Therapeutics' current full-year earnings is ($3.61) per share. HC Wainwright also issued estimates for Acrivon Therapeutics' Q2 2024 earnings at ($0.58) EPS, Q3 2024 earnings at ($0.57) EPS, Q4 2024 earnings at ($0.59) EPS, FY2024 earnings at ($2.63) EPS, FY2025 earnings at ($3.18) EPS, FY2026 earnings at ($3.00) EPS, FY2027 earnings at ($1.65) EPS and FY2028 earnings at ($1.04) EPS.

ACRV has been the subject of several other research reports. LADENBURG THALM/SH SH reduced their price target on shares of Acrivon Therapeutics from $18.00 to $14.00 and set a "buy" rating for the company in a report on Friday, April 5th. BMO Capital Markets reissued an "outperform" rating and set a $18.00 price target on shares of Acrivon Therapeutics in a report on Monday, April 1st. Finally, JMP Securities reissued a "market outperform" rating and set a $14.00 price target on shares of Acrivon Therapeutics in a report on Monday, April 1st. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Acrivon Therapeutics has an average rating of "Buy" and an average price target of $20.14.

Acrivon Therapeutics Trading Up 7.5 %

Acrivon Therapeutics stock traded up $0.70 during mid-day trading on Friday, reaching $9.99. The company's stock had a trading volume of 345,386 shares, compared to its average volume of 635,853. The firm has a market cap of $226.17 million, a price-to-earnings ratio of -3.66 and a beta of 1.94. The business has a 50 day moving average price of $5.48 and a 200-day moving average price of $5.30. Acrivon Therapeutics has a twelve month low of $3.19 and a twelve month high of $14.30.

Institutional Investors Weigh In On Acrivon Therapeutics

Large investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund acquired a new position in shares of Acrivon Therapeutics during the first quarter worth approximately $28,000. Citigroup Inc. lifted its holdings in shares of Acrivon Therapeutics by 1,281.2% during the second quarter. Citigroup Inc. now owns 2,790 shares of the company's stock worth $36,000 after buying an additional 2,588 shares during the last quarter. California State Teachers Retirement System acquired a new position in shares of Acrivon Therapeutics during the first quarter worth approximately $41,000. Wells Fargo & Company MN raised its stake in shares of Acrivon Therapeutics by 108.1% in the second quarter. Wells Fargo & Company MN now owns 3,305 shares of the company's stock valued at $43,000 after purchasing an additional 1,717 shares in the last quarter. Finally, Barclays PLC acquired a new position in shares of Acrivon Therapeutics in the fourth quarter valued at $47,000. Institutional investors 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.