JMP Securities Reaffirms Market Outperform Rating for Acrivon Therapeutics (NASDAQ:ACRV)

Acrivon Therapeutics (NASDAQ:ACRV)‘s stock had its “market outperform” rating restated by equities researchers at JMP Securities in a report issued on Monday, Benzinga reports. They currently have a $17.00 price objective on the stock. JMP Securities’ price objective points to a potential upside of 92.09% from the company’s previous close.

Several other brokerages have also recently issued reports on ACRV. 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. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Acrivon Therapeutics in a research note on Monday. BMO Capital Markets reaffirmed an “outperform” rating and set a $28.00 price objective (up from $25.00) on shares of Acrivon Therapeutics in a research report on Monday. Finally, Piper Sandler Companies reissued a “buy” rating and issued a $30.00 target price on shares of Acrivon Therapeutics in a report on Friday, September 6th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $23.86.

Acrivon Therapeutics Trading Down 0.7 %

ACRV traded down $0.06 during trading on Monday, reaching $8.85. The stock had a trading volume of 126,687 shares, compared to its average volume of 330,123. Acrivon Therapeutics has a one year low of $3.19 and a one year high of $11.90. The company has a market capitalization of $273.26 million, a price-to-earnings ratio of -3.33 and a beta of 0.81. The stock’s 50 day moving average is $8.15 and its two-hundred day moving average is $7.65.

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

Institutional Investors Weigh In On Acrivon Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Acrivon Therapeutics by 6.6% in the first quarter. Vanguard Group Inc. now owns 507,185 shares of the company’s stock worth $3,626,000 after purchasing an additional 31,208 shares in the last quarter. American International Group Inc. lifted its holdings in shares of Acrivon Therapeutics by 39.2% in the 1st 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 during the period. Baker BROS. Advisors LP bought a new position in shares of Acrivon Therapeutics during the 1st quarter worth $378,000. Bank of New York Mellon Corp raised its holdings in shares of Acrivon Therapeutics by 50.1% in the second quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company’s stock valued at $212,000 after acquiring an additional 12,219 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Acrivon Therapeutics by 48.9% in the second quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock worth $94,000 after acquiring an additional 5,320 shares during the period. 71.62% of the stock is owned by institutional investors.

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.