Acrivon Therapeutics (NASDAQ:ACRV) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Acrivon Therapeutics (NASDAQ:ACRV) in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. The firm currently has a $22.00 price objective on the stock.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets restated an “outperform” rating and set a $28.00 target price (up from $25.00) on shares of Acrivon Therapeutics 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. LADENBURG THALM/SH SH raised shares of Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Monday, September 16th. Finally, Piper Sandler Companies reiterated a “buy” rating and set a $30.00 price target on shares of Acrivon Therapeutics in a report on Friday, September 6th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $23.67.

Acrivon Therapeutics Trading Down 8.8 %

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

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Acrivon Therapeutics by 6.6% in the first quarter. Vanguard Group Inc. now owns 507,185 shares of the company’s stock valued at $3,626,000 after purchasing an additional 31,208 shares during the period. American International Group Inc. lifted its position in Acrivon Therapeutics by 39.2% in the 1st quarter. American International Group Inc. now owns 6,016 shares of the company’s stock valued at $43,000 after purchasing an additional 1,695 shares during the last quarter. Baker BROS. Advisors LP bought a new position in shares of Acrivon Therapeutics in the first quarter worth $378,000. Bank of New York Mellon Corp raised its holdings 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 worth $212,000 after purchasing an additional 12,219 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Acrivon Therapeutics by 48.9% during the 2nd quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock valued at $94,000 after purchasing an additional 5,320 shares in the last quarter. Institutional investors and hedge funds 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.