Brokerages Set Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Price Target at $23.86

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) has been given an average recommendation of “Buy” by the seven analysts that are covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $23.86.

Several research analysts have issued reports on the company. Piper Sandler Companies restated a “buy” rating and set a $30.00 target price on shares of Acrivon Therapeutics in a research report on Friday, September 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 price objective on shares of Acrivon Therapeutics in a research report on Monday, September 16th. LADENBURG THALM/SH SH raised shares of Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Monday, September 16th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $28.00 price target (up previously from $25.00) on shares of Acrivon Therapeutics in a research note on Monday, September 16th. Finally, HC Wainwright reiterated a “buy” rating and issued a $22.00 price target on shares of Acrivon Therapeutics in a report on Monday, September 16th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ACRV. American International Group Inc. grew 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. Rhumbline Advisers grew its position in Acrivon Therapeutics by 48.9% during the second quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock valued at $94,000 after buying an additional 5,320 shares during the period. Dimensional Fund Advisors LP purchased a new position in Acrivon Therapeutics in the second quarter valued at $58,000. XTX Topco Ltd acquired a new position in shares of Acrivon Therapeutics in the second quarter worth about $61,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Acrivon Therapeutics by 50.1% during 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. 71.62% of the stock is owned by institutional investors and hedge funds.

Acrivon Therapeutics Price Performance

Shares of ACRV stock opened at $7.23 on Tuesday. The company has a market cap of $223.24 million, a PE ratio of -2.51 and a beta of 0.81. The stock’s 50 day simple moving average is $8.17 and its two-hundred day simple moving average is $7.75. Acrivon Therapeutics has a 1 year low of $3.19 and a 1 year high of $11.90.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.60) by $0.08. Equities research analysts expect that Acrivon Therapeutics will post -2.4 EPS 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.