Acrivon Therapeutics (NASDAQ:ACRV) Stock Rating Reaffirmed by BMO Capital Markets

Acrivon Therapeutics (NASDAQ:ACRV)‘s stock had its “outperform” rating reaffirmed by equities research analysts at BMO Capital Markets in a research note issued on Monday, Benzinga reports. They currently have a $28.00 price target on the stock, up from their prior price target of $25.00. BMO Capital Markets’ price objective would indicate a potential upside of 194.74% from the stock’s previous close.

Several other equities analysts have also recently commented on the company. LADENBURG THALM/SH SH upgraded Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Monday. Piper Sandler Companies reissued a “buy” rating and set a $30.00 price objective on shares of Acrivon Therapeutics in a report on Friday, September 6th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $22.00 target price on shares of Acrivon Therapeutics in a research note on Monday. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Acrivon Therapeutics has an average rating of “Buy” and a consensus target price of $23.86.

Acrivon Therapeutics Stock Up 6.6 %

Shares of ACRV opened at $9.50 on Monday. 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 $293.33 million, a PE ratio of -3.30 and a beta of 0.81. The business’s 50-day moving average price is $8.15 and its 200-day moving average price is $7.65.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its earnings results on Tuesday, August 13th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping 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. American International Group Inc. boosted its stake in shares of Acrivon Therapeutics by 39.2% in 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 in the last quarter. Dimensional Fund Advisors LP bought a new stake in Acrivon Therapeutics in the second quarter worth $58,000. XTX Topco Ltd purchased a new stake in Acrivon Therapeutics during the second quarter valued at about $61,000. Rhumbline Advisers increased its holdings in shares of Acrivon Therapeutics by 48.9% in the second quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock worth $94,000 after buying an additional 5,320 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings 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 buying an additional 12,219 shares during the period. Hedge funds and other institutional investors own 71.62% of the company’s stock.

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.