LADENBURG THALM/SH SH Cuts Acrivon Therapeutics (NASDAQ:ACRV) Price Target to $14.00

Acrivon Therapeutics (NASDAQ:ACRV - Get Free Report) had its price objective cut by equities research analysts at LADENBURG THALM/SH SH from $18.00 to $14.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. LADENBURG THALM/SH SH's price objective indicates a potential upside of 116.05% from the company's previous close.

ACRV has been the subject of several other reports. HC Wainwright reaffirmed a "buy" rating and set a $20.00 price objective on shares of Acrivon Therapeutics in a research note on Thursday, March 28th. BMO Capital Markets reaffirmed an "outperform" rating and set a $18.00 price objective on shares of Acrivon Therapeutics in a research note on Monday. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $14.00 price objective on shares of Acrivon Therapeutics in a research note on Monday. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Acrivon Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $20.14.

Acrivon Therapeutics Trading Down 3.1 %

Shares of NASDAQ ACRV traded down $0.21 during trading hours on Friday, reaching $6.48. The stock had a trading volume of 21,925 shares, compared to its average volume of 74,405. The firm has a market cap of $146.71 million, a price-to-earnings ratio of -2.30 and a beta of 1.94. Acrivon Therapeutics has a fifty-two week low of $3.19 and a fifty-two week high of $14.30. The firm has a 50-day moving average of $4.90 and a 200-day moving average of $5.34.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Wells Fargo & Company MN raised its position in shares of Acrivon Therapeutics by 108.1% in the 2nd quarter. Wells Fargo & Company MN now owns 3,305 shares of the company's stock worth $43,000 after buying an additional 1,717 shares during the period. Bank of New York Mellon Corp increased its position in shares of Acrivon Therapeutics by 8.6% during the second quarter. Bank of New York Mellon Corp now owns 24,795 shares of the company's stock worth $321,000 after acquiring an additional 1,958 shares during the last quarter. New York State Common Retirement Fund purchased a new stake in shares of Acrivon Therapeutics during the first quarter worth about $28,000. Citigroup Inc. grew its stake in Acrivon Therapeutics by 1,281.2% in the second quarter. Citigroup Inc. now owns 2,790 shares of the company's stock worth $36,000 after purchasing an additional 2,588 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Acrivon Therapeutics by 4.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 60,958 shares of the company's stock worth $790,000 after purchasing an additional 2,749 shares in the last quarter. 71.62% of the stock is owned by hedge funds and other institutional investors.

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.