Acrivon Therapeutics’ (ACRV) “Buy” Rating Reiterated at Piper Sandler Companies

Piper Sandler Companies reissued their buy rating on shares of Acrivon Therapeutics (NASDAQ:ACRV) in a research note released on Friday morning, Stock Target Advisor reports. The firm currently has a $30.00 target price on the stock.

Other research analysts have also issued research reports about the company. BMO Capital Markets reissued an outperform rating and set a $25.00 price objective on shares of Acrivon Therapeutics in a report on Wednesday, May 15th. HC Wainwright reissued a buy rating and set a $22.00 price objective on shares of Acrivon Therapeutics in a report on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $23.14.

Acrivon Therapeutics Stock Down 2.2 %

Shares of ACRV opened at $7.90 on Friday. The business’s 50-day moving average price is $7.93 and its 200-day moving average price is $7.52. Acrivon Therapeutics has a twelve month low of $3.19 and a twelve month high of $11.90. The stock has a market cap of $244.66 million, a PE ratio of -2.74 and a beta of 0.81.

Acrivon Therapeutics (NASDAQ:ACRV) last announced its quarterly 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 expect that Acrivon Therapeutics will post -2.4 earnings per share for the current fiscal year.

Institutional Trading of Acrivon Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Perceptive Advisors LLC boosted its stake in Acrivon Therapeutics by 78.2% in the second quarter. Perceptive Advisors LLC now owns 5,360,858 shares of the company’s stock worth $31,093,000 after buying an additional 2,353,000 shares in the last quarter. Marshall Wace LLP boosted its stake in Acrivon Therapeutics by 58.8% in the second quarter. Marshall Wace LLP now owns 948,866 shares of the company’s stock worth $5,503,000 after buying an additional 351,397 shares in the last quarter. Sands Capital Ventures LLC boosted its stake in shares of Acrivon Therapeutics by 28.4% during the second quarter. Sands Capital Ventures LLC now owns 2,122,605 shares of the company’s stock valued at $12,311,000 after purchasing an additional 470,000 shares during the period. XTX Topco Ltd purchased a new stake in shares of Acrivon Therapeutics during the second quarter valued at approximately $61,000. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Acrivon Therapeutics during the second quarter valued at approximately $58,000. Hedge funds and other institutional investors own 71.62% of the company’s stock.

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.