Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Given Average Rating of “Moderate Buy” by Analysts

Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) have been given an average recommendation of “Moderate Buy” by the seven ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $22.57.

ACRV has been the topic of several recent analyst reports. LADENBURG THALM/SH SH downgraded shares of Acrivon Therapeutics from a “buy” rating to a “neutral” rating in a report on Monday, April 29th. Piper Sandler raised their price target on shares of 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 restated an “outperform” rating and issued a $25.00 price target on shares of Acrivon Therapeutics in a research report on Wednesday, May 15th. HC Wainwright raised their price target on shares of Acrivon Therapeutics from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Finally, JMP Securities lifted their target price on shares of Acrivon Therapeutics from $14.00 to $17.00 and gave the company a “market outperform” rating in a research report on Thursday, April 25th.

Hedge Funds Weigh In On Acrivon Therapeutics

A number of institutional investors have recently modified their holdings of ACRV. American International Group Inc. lifted its position in shares of Acrivon Therapeutics by 39.2% during the first quarter. American International Group Inc. now owns 6,016 shares of the company’s stock worth $43,000 after purchasing an additional 1,695 shares in the last quarter. Rhumbline Advisers lifted its position in shares of 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 purchasing an additional 5,320 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Acrivon Therapeutics by 50.1% during the second quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company’s stock worth $212,000 after purchasing an additional 12,219 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Acrivon Therapeutics by 6.6% during 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. Finally, Baker BROS. Advisors LP acquired a new position in shares of Acrivon Therapeutics during the first quarter worth approximately $378,000. 71.62% of the stock is owned by institutional investors.

Acrivon Therapeutics Trading Down 3.3 %

Acrivon Therapeutics stock opened at $7.55 on Monday. The company has a market capitalization of $233.14 million, a P/E ratio of -2.62 and a beta of 0.79. The firm’s fifty day simple moving average is $7.26 and its 200-day simple moving average is $6.71. Acrivon Therapeutics has a 1-year low of $3.19 and a 1-year high of $12.89.

Acrivon Therapeutics (NASDAQ:ACRV) last announced its earnings results on Tuesday, May 14th. The company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.16. On average, equities research analysts predict that Acrivon Therapeutics will post -2.47 earnings per share for the current 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.