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

Acrivon Therapeutics (NASDAQ:ACRV - Get Free Report)'s stock had its "buy" rating restated by analysts at HC Wainwright in a note issued to investors on Thursday, Benzinga reports. They currently have a $20.00 price target on the stock. HC Wainwright's price target points to a potential upside of 136.13% from the stock's previous close.

Other equities research analysts have also issued reports about the stock. LADENBURG THALM/SH SH reduced their target price 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 restated an "outperform" rating and issued a $18.00 price target on shares of Acrivon Therapeutics in a research note on Monday, April 1st. Finally, JMP Securities restated a "market outperform" rating and issued a $14.00 price target on shares of Acrivon Therapeutics in a research note on Monday, April 1st. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $21.75.

Acrivon Therapeutics Trading Down 10.8 %

Acrivon Therapeutics stock traded down $1.03 during midday trading on Thursday, hitting $8.47. The stock had a trading volume of 695,095 shares, compared to its average volume of 608,444. The firm's fifty day moving average is $6.47 and its two-hundred day moving average is $5.33. The company has a market capitalization of $191.76 million, a PE ratio of -3.21 and a beta of 1.94. Acrivon Therapeutics has a 52-week low of $3.19 and a 52-week high of $14.30.

Acrivon Therapeutics (NASDAQ:ACRV - Get Free Report) last released its earnings results on Thursday, March 28th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.14). As a group, equities research analysts predict that Acrivon Therapeutics will post -3.3 earnings per share for the current fiscal year.

Insider Activity at Acrivon Therapeutics

In related news, major shareholder Perceptive Advisors Llc purchased 2,353,000 shares of the firm's stock in a transaction that occurred 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 owns 5,360,858 shares of the company's stock, valued at approximately $45,567,293. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.30% of the stock is currently owned by insiders.

Institutional Trading of Acrivon Therapeutics

An institutional investor recently raised its position in Acrivon Therapeutics stock. Exchange Traded Concepts LLC boosted its stake in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV - Free Report) by 34.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 13,289 shares of the company's stock after buying an additional 3,370 shares during the period. Exchange Traded Concepts LLC owned approximately 0.06% of Acrivon Therapeutics worth $65,000 at the end of the most recent quarter. 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.