Acrivon Therapeutics (NASDAQ:ACRV) Downgraded by LADENBURG THALM/SH SH to Neutral

LADENBURG THALM/SH SH downgraded shares of Acrivon Therapeutics (NASDAQ:ACRV - Free Report) from a buy rating to a neutral rating in a research report released on Monday, MarketBeat reports.

Several other analysts have also recently issued reports on ACRV. BMO Capital Markets upped their price objective on Acrivon Therapeutics from $18.00 to $25.00 and gave the stock an outperform rating in a report on Friday. JMP Securities upped their price objective on Acrivon Therapeutics from $14.00 to $17.00 and gave the stock a market outperform rating in a report on Thursday. HC Wainwright reaffirmed a buy rating and set a $20.00 price objective on shares of Acrivon Therapeutics in a report on Thursday. Finally, Piper Sandler increased their price target on Acrivon Therapeutics from $26.00 to $30.00 and gave the company an overweight rating in a report on Thursday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $22.63.

Acrivon Therapeutics Stock Up 18.2 %

NASDAQ ACRV traded up $1.54 during trading hours on Monday, reaching $10.00. The company's stock had a trading volume of 239,144 shares, compared to its average volume of 599,934. The firm's 50-day moving average price is $6.65 and its 200-day moving average price is $5.35. Acrivon Therapeutics has a 1 year low of $3.19 and a 1 year high of $14.30. The company has a market capitalization of $226.40 million, a price-to-earnings ratio of -3.33 and a beta of 1.93.

Acrivon Therapeutics (NASDAQ:ACRV - Get Free Report) last posted its quarterly earnings results on Thursday, March 28th. The company reported ($0.86) EPS for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.14). Equities research analysts anticipate that Acrivon Therapeutics will post -3.16 EPS for the current fiscal year.

Insider Activity at Acrivon Therapeutics

In related news, major shareholder Perceptive Advisors Llc acquired 2,353,000 shares of the company's stock in a transaction that occurred on Thursday, April 11th. The shares were bought at an average price of $8.50 per share, with a total value of $20,000,500.00. Following the completion of the transaction, 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 can be accessed through the SEC website. 7.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Acrivon Therapeutics

A hedge fund recently raised its stake in Acrivon Therapeutics stock. Exchange Traded Concepts LLC raised its holdings in Acrivon Therapeutics, Inc. (NASDAQ:ACRV - Free Report) by 34.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,289 shares of the company's stock after buying an additional 3,370 shares during the quarter. Exchange Traded Concepts LLC owned about 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.

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.