Acrivon Therapeutics (NASDAQ:ACRV) Raised to “Buy” at LADENBURG THALM/SH SH

Acrivon Therapeutics (NASDAQ:ACRV) was upgraded by stock analysts at LADENBURG THALM/SH SH from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, Marketbeat Ratings reports. The brokerage currently has a $16.00 price objective on the stock. LADENBURG THALM/SH SH’s price target suggests a potential upside of 79.57% from the company’s previous close.

ACRV has been the subject of several other reports. Piper Sandler Companies restated a “buy” rating and set a $30.00 target price on shares of Acrivon Therapeutics in a report on Friday, September 6th. HC Wainwright restated a “buy” rating and set a $22.00 target price on shares of Acrivon Therapeutics in a report on Tuesday, August 13th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $23.43.

Acrivon Therapeutics Price Performance

Shares of ACRV stock opened at $8.91 on Monday. The stock has a market capitalization of $275.11 million, a PE ratio of -3.09 and a beta of 0.81. Acrivon Therapeutics has a 1-year low of $3.19 and a 1-year high of $11.90. The business has a 50-day moving average of $8.15 and a 200 day moving average of $7.65.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. American International Group Inc. raised its position in Acrivon Therapeutics by 39.2% during 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. Rhumbline Advisers raised its position in shares of Acrivon Therapeutics by 48.9% in the 2nd quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock worth $94,000 after acquiring an additional 5,320 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Acrivon Therapeutics in the 2nd quarter worth approximately $58,000. XTX Topco Ltd bought a new position in shares of Acrivon Therapeutics in the 2nd quarter worth approximately $61,000. Finally, Bank of New York Mellon Corp raised its position in shares of 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 worth $212,000 after acquiring an additional 12,219 shares in the last quarter. Institutional investors 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.