Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Receives $22.88 Average Target Price from Analysts

Acrivon Therapeutics, Inc. (NASDAQ:ACRV - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eight ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $22.88.

ACRV has been the subject of a number of research analyst reports. BMO Capital Markets reissued an "outperform" rating and issued a $25.00 target price on shares of Acrivon Therapeutics in a research report on Wednesday. JMP Securities upped their target price on Acrivon Therapeutics from $14.00 to $17.00 and gave the company a "market outperform" rating in a research report on Thursday, April 25th. LADENBURG THALM/SH SH cut Acrivon Therapeutics from a "buy" rating to a "neutral" rating in a research report on Monday, April 29th. HC Wainwright upped their target price on Acrivon Therapeutics from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Piper Sandler upped their target price on Acrivon Therapeutics from $26.00 to $30.00 and gave the company an "overweight" rating in a research report on Thursday, April 25th.

Acrivon Therapeutics Stock Up 3.5 %

NASDAQ ACRV traded up $0.29 during trading hours on Wednesday, hitting $8.65. 38,512 shares of the company were exchanged, compared to its average volume of 543,779. The company has a 50 day moving average of $7.74 and a two-hundred day moving average of $5.64. Acrivon Therapeutics has a 52-week low of $3.19 and a 52-week high of $14.30. The firm has a market cap of $195.84 million, a price-to-earnings ratio of -3.17 and a beta of 1.24.

Acrivon Therapeutics (NASDAQ:ACRV - Get Free Report) last issued its quarterly earnings results on Thursday, March 28th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.14). On average, equities research analysts predict that Acrivon Therapeutics will post -3.05 EPS for the current year.

Insider Activity at Acrivon Therapeutics

In other Acrivon Therapeutics news, major shareholder Perceptive Advisors Llc acquired 2,353,000 shares of the business's stock in a transaction on Thursday, April 11th. The stock was purchased at an average price of $8.50 per share, for a total transaction of $20,000,500.00. Following the completion of the transaction, the insider now owns 5,360,858 shares of the company's stock, valued at approximately $45,567,293. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 7.30% of the company's stock.

Institutional Investors Weigh In On Acrivon Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of ACRV. American International Group Inc. raised its position in Acrivon Therapeutics by 39.2% during the first quarter. American International Group Inc. now owns 6,016 shares of the company's stock worth $43,000 after acquiring an additional 1,695 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Acrivon Therapeutics by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 13,289 shares of the company's stock worth $65,000 after purchasing an additional 3,370 shares in the last quarter. Baker BROS. Advisors LP acquired a new position in shares of Acrivon Therapeutics during the 1st quarter worth approximately $378,000. Finally, Vanguard Group Inc. lifted its stake in Acrivon Therapeutics by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 507,185 shares of the company's stock valued at $3,626,000 after buying an additional 31,208 shares in the last quarter. 71.62% of the stock is currently 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.