Brokerages Set Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Price Target at $20.14

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) has been assigned an average rating of “Buy” from the seven ratings firms that are covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $20.14.

Several equities analysts have recently issued reports on ACRV shares. HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Acrivon Therapeutics in a report on Thursday, March 28th. LADENBURG THALM/SH SH reduced their price target on shares of Acrivon Therapeutics from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, April 5th. BMO Capital Markets reissued an “outperform” rating and set a $18.00 price target on shares of Acrivon Therapeutics in a report on Monday, April 1st. Finally, JMP Securities reissued a “market outperform” rating and set a $14.00 price target on shares of Acrivon Therapeutics in a report on Monday, April 1st.

Insider Buying and Selling

In other Acrivon Therapeutics news, major shareholder Perceptive Advisors Llc purchased 2,353,000 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were purchased at an average cost of $8.50 per share, for a total transaction of $20,000,500.00. Following the completion of the transaction, the insider now owns 5,360,858 shares in the company, valued at $45,567,293. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On Acrivon Therapeutics

An institutional investor recently raised its position in Acrivon Therapeutics stock. Exchange Traded Concepts LLC boosted its holdings in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,289 shares of the company’s stock after acquiring an additional 3,370 shares during the quarter. Exchange Traded Concepts LLC owned about 0.06% of Acrivon Therapeutics worth $65,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 71.62% of the company’s stock.

Acrivon Therapeutics Price Performance

ACRV stock opened at $9.50 on Friday. Acrivon Therapeutics has a 1-year low of $3.19 and a 1-year high of $14.30. The firm has a fifty day moving average price of $6.47 and a two-hundred day moving average price of $5.33. The firm has a market cap of $215.08 million, a price-to-earnings ratio of -3.48 and a beta of 1.94.

Acrivon Therapeutics (NASDAQ:ACRV) last released its earnings results on Thursday, March 28th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.14). As a group, analysts expect that Acrivon Therapeutics will post -3.3 EPS for the current fiscal year.

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.