Brokerages Set Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Price Target at $23.83

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) has been assigned a consensus rating of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have issued a report on the stock in the last year is $23.83.

A number of research firms recently commented on ACRV. HC Wainwright reissued a “buy” rating and set a $22.00 price target on shares of Acrivon Therapeutics in a research report on Monday, September 16th. Piper Sandler Companies reissued a “buy” rating and set a $30.00 target price on shares of Acrivon Therapeutics in a report on Friday, September 6th. BMO Capital Markets restated an “outperform” rating and issued a $28.00 price target (up previously from $25.00) on shares of Acrivon Therapeutics in a research note on Monday, September 16th. LADENBURG THALM/SH SH raised shares of Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Monday, September 16th. Finally, JMP Securities reissued a “market outperform” rating and issued a $17.00 price objective on shares of Acrivon Therapeutics in a research report on Monday, September 16th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACRV. American International Group Inc. lifted its holdings in shares of 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 buying an additional 1,695 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Acrivon Therapeutics by 48.9% in the second quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock valued at $94,000 after acquiring an additional 5,320 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in Acrivon Therapeutics during the second quarter worth about $58,000. XTX Topco Ltd acquired a new stake in Acrivon Therapeutics in the 2nd quarter worth about $61,000. Finally, Bank of New York Mellon Corp boosted its holdings in Acrivon Therapeutics by 50.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company’s stock valued at $212,000 after purchasing an additional 12,219 shares during the period. 71.62% of the stock is owned by institutional investors and hedge funds.

Acrivon Therapeutics Trading Up 2.0 %

NASDAQ:ACRV opened at $7.75 on Friday. The stock has a market capitalization of $239.30 million, a PE ratio of -2.69 and a beta of 0.78. Acrivon Therapeutics has a 1-year low of $3.19 and a 1-year high of $11.90. The firm has a fifty day simple moving average of $7.94 and a 200 day simple moving average of $7.89.

Acrivon Therapeutics (NASDAQ:ACRV) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.08. On average, equities analysts predict that Acrivon Therapeutics will post -2.4 earnings per share for the current fiscal year.

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.