Acrivon Therapeutics (NASDAQ:ACRV) Given New $27.00 Price Target at BMO Capital Markets

Acrivon Therapeutics (NASDAQ:ACRV) had its target price trimmed by BMO Capital Markets from $28.00 to $27.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other brokerages also recently weighed in on ACRV. LADENBURG THALM/SH SH upgraded shares of Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Monday, September 16th. JMP Securities reiterated a “market outperform” rating and set a $17.00 price objective on shares of Acrivon Therapeutics in a research report on Monday, September 16th. Piper Sandler Companies reiterated a “buy” rating and issued a $30.00 price target on shares of Acrivon Therapeutics in a report on Friday, September 6th. Finally, HC Wainwright restated a “buy” rating and issued a $22.00 price target on shares of Acrivon Therapeutics in a report on Thursday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $23.67.

Acrivon Therapeutics Trading Down 8.8 %

Shares of ACRV stock traded down $0.70 on Thursday, hitting $7.22. 34,850 shares of the stock were exchanged, compared to its average volume of 283,039. The firm has a market capitalization of $223.60 million, a PE ratio of -2.74 and a beta of 0.66. The firm’s 50 day moving average is $7.80 and its two-hundred day moving average is $7.81. Acrivon Therapeutics has a one year low of $3.19 and a one year high of $11.90.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.60) by $0.08. On average, sell-side analysts expect that Acrivon Therapeutics will post -2.4 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. American International Group Inc. increased its position in shares of Acrivon Therapeutics by 39.2% in 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 in the last quarter. Rhumbline Advisers increased its holdings in shares of Acrivon Therapeutics by 48.9% in the 2nd quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock valued at $94,000 after acquiring an additional 5,320 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in Acrivon Therapeutics in the second quarter worth $58,000. XTX Topco Ltd bought a new position in shares of Acrivon Therapeutics in the second quarter worth $61,000. Finally, Bank of New York Mellon Corp boosted its stake in Acrivon Therapeutics by 50.1% during the second quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company’s stock valued at $212,000 after buying an additional 12,219 shares in the last quarter. Hedge funds and other 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.