Acrivon Therapeutics (NASDAQ:ACRV) Raised to “Buy” at LADENBURG THALM/SH SH

Acrivon Therapeutics (NASDAQ:ACRVGet Free Report) was upgraded by stock analysts at LADENBURG THALM/SH SH from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, Marketbeat Ratings reports. The brokerage currently has a $16.00 price objective on the stock. LADENBURG THALM/SH SH’s price target suggests a potential upside of 79.57% from the company’s previous close.

ACRV has been the subject of several other reports. Piper Sandler Companies restated a “buy” rating and set a $30.00 target price on shares of Acrivon Therapeutics in a report on Friday, September 6th. HC Wainwright restated a “buy” rating and set a $22.00 target price on shares of Acrivon Therapeutics in a report on Tuesday, August 13th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $23.43.

Get Our Latest Research Report on Acrivon Therapeutics

Acrivon Therapeutics Price Performance

Shares of ACRV stock opened at $8.91 on Monday. The stock has a market capitalization of $275.11 million, a PE ratio of -3.09 and a beta of 0.81. Acrivon Therapeutics has a 1-year low of $3.19 and a 1-year high of $11.90. The business has a 50-day moving average of $8.15 and a 200 day moving average of $7.65.

Acrivon Therapeutics (NASDAQ:ACRVGet Free Report) last issued its earnings results on Tuesday, August 13th. The company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.08. Analysts anticipate that Acrivon Therapeutics will post -2.4 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. American International Group Inc. raised its position 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. Rhumbline Advisers raised its position in shares of Acrivon Therapeutics by 48.9% in the 2nd quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock worth $94,000 after acquiring an additional 5,320 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Acrivon Therapeutics in the 2nd quarter worth approximately $58,000. XTX Topco Ltd bought a new position in shares of Acrivon Therapeutics in the 2nd quarter worth approximately $61,000. Finally, Bank of New York Mellon Corp raised its position in shares of Acrivon Therapeutics by 50.1% in the 2nd 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 in the last quarter. Institutional investors own 71.62% of the company’s stock.

Acrivon Therapeutics Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Acrivon Therapeutics (NASDAQ:ACRV)

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