HC Wainwright Issues Pessimistic Forecast for Acrivon Therapeutics (NASDAQ:ACRV) Stock Price

Acrivon Therapeutics (NASDAQ:ACRV) had its price objective dropped by investment analysts at HC Wainwright from $22.00 to $19.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 252.50% from the company’s previous close.

Several other equities research analysts have also recently commented on ACRV. Cantor Fitzgerald initiated coverage on shares of Acrivon Therapeutics in a research report on Friday, January 31st. They issued an “overweight” rating on the stock. KeyCorp initiated coverage on Acrivon Therapeutics in a research note on Friday, January 31st. They issued an “overweight” rating on the stock. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $23.17.

Acrivon Therapeutics Stock Performance

Shares of ACRV stock opened at $5.39 on Wednesday. Acrivon Therapeutics has a 1 year low of $4.69 and a 1 year high of $11.90. The business’s fifty day moving average is $5.54 and its 200-day moving average is $6.63. The stock has a market cap of $167.82 million, a PE ratio of -2.00 and a beta of 0.85.

Institutional Trading of Acrivon Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. purchased a new stake in Acrivon Therapeutics in the 4th quarter worth about $40,000. Wealthedge Investment Advisors LLC acquired a new position in Acrivon Therapeutics in the 4th quarter valued at approximately $65,000. Corton Capital Inc. purchased a new stake in Acrivon Therapeutics in the 4th quarter worth approximately $73,000. American Century Companies Inc. lifted its position in Acrivon Therapeutics by 14.2% in the 4th quarter. American Century Companies Inc. now owns 17,588 shares of the company’s stock worth $106,000 after buying an additional 2,186 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Acrivon Therapeutics by 20.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 37,063 shares of the company’s stock valued at $223,000 after buying an additional 6,239 shares during the period. 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.