Acrivon Therapeutics’ (ACRV) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Acrivon Therapeutics (NASDAQ:ACRV) in a research report sent to investors on Thursday morning, Benzinga reports. HC Wainwright currently has a $20.00 price objective on the stock.

Other equities research analysts also recently issued reports about the company. JMP Securities restated a market outperform rating and set a $14.00 price objective on shares of Acrivon Therapeutics in a report on Monday, April 1st. LADENBURG THALM/SH SH decreased their target price on Acrivon Therapeutics from $18.00 to $14.00 and set a buy rating for the company in a research report on Friday, April 5th. Finally, BMO Capital Markets reiterated an outperform rating and issued a $18.00 target price on shares of Acrivon Therapeutics in a research report on Monday, April 1st. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of Buy and an average price target of $21.75.

Acrivon Therapeutics Stock Down 10.8 %

ACRV stock opened at $8.47 on Thursday. Acrivon Therapeutics has a 52-week low of $3.19 and a 52-week high of $14.30. The stock’s 50 day moving average is $6.56 and its two-hundred day moving average is $5.35. The company has a market capitalization of $191.76 million, a PE ratio of -3.10 and a beta of 1.94.

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

Insider Activity at Acrivon Therapeutics

In related news, major shareholder Perceptive Advisors Llc acquired 2,353,000 shares of Acrivon Therapeutics stock in a transaction that occurred on Thursday, April 11th. The stock was acquired at an average price of $8.50 per share, for a total transaction of $20,000,500.00. Following the transaction, the insider now directly owns 5,360,858 shares of the company’s stock, valued at approximately $45,567,293. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Acrivon Therapeutics stock. Exchange Traded Concepts LLC grew its holdings in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% in the fourth quarter, according to its most recent filing with the SEC. The firm 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. 71.62% of the stock is owned by hedge funds and other institutional investors.

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.