Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Receives $22.57 Consensus Target Price from Analysts

Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) have received an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $22.57.

Several brokerages have weighed in on ACRV. Piper Sandler upped their target price on Acrivon Therapeutics from $26.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. BMO Capital Markets reaffirmed an “outperform” rating and set a $25.00 price target on shares of Acrivon Therapeutics in a research note on Wednesday, May 15th. JMP Securities raised their price target on Acrivon Therapeutics from $14.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Thursday, April 25th. HC Wainwright raised their price target on Acrivon Therapeutics from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Finally, LADENBURG THALM/SH SH downgraded Acrivon Therapeutics from a “buy” rating to a “neutral” rating in a research note on Monday, April 29th.

Institutional Investors Weigh In On Acrivon Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Baker BROS. Advisors LP bought a new stake in Acrivon Therapeutics during the 1st quarter valued at approximately $378,000. Vanguard Group Inc. boosted its position in shares of Acrivon Therapeutics by 6.6% in the first quarter. Vanguard Group Inc. now owns 507,185 shares of the company’s stock valued at $3,626,000 after acquiring an additional 31,208 shares during the period. Bank of New York Mellon Corp grew its stake 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 worth $212,000 after acquiring an additional 12,219 shares during the last quarter. Rhumbline Advisers increased its position in Acrivon Therapeutics by 48.9% during 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. Finally, American International Group Inc. raised its stake 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. 71.62% of the stock is owned by institutional investors and hedge funds.

Acrivon Therapeutics Price Performance

Shares of ACRV opened at $7.55 on Monday. The business’s 50-day moving average is $7.26 and its 200-day moving average is $6.67. The company has a market capitalization of $233.14 million, a price-to-earnings ratio of -2.62 and a beta of 0.78. Acrivon Therapeutics has a fifty-two week low of $3.19 and a fifty-two week high of $12.89.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its earnings results on Tuesday, May 14th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.16. Equities research analysts expect that Acrivon Therapeutics will post -2.47 earnings per share for the current fiscal year.

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.