Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Receives Average Recommendation of “Buy” from Analysts

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) has been given a consensus recommendation of “Buy” by the six analysts that are presently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $23.67.

Several equities analysts have recently commented on the company. BMO Capital Markets reduced their target price on Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, November 14th. HC Wainwright restated a “buy” rating and set a $22.00 price objective on shares of Acrivon Therapeutics in a research note on Thursday, November 14th.

Acrivon Therapeutics Stock Up 4.1 %

Shares of NASDAQ:ACRV opened at $5.78 on Monday. The company has a market capitalization of $179.97 million, a price-to-earnings ratio of -2.14 and a beta of 0.77. The company has a 50 day moving average of $6.64 and a two-hundred day moving average of $7.45. Acrivon Therapeutics has a 52-week low of $3.19 and a 52-week high of $11.90.

Institutional Investors Weigh In On Acrivon Therapeutics

Several large investors have recently added to or reduced their stakes in ACRV. Bank of New York Mellon Corp increased its position in 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. Rhumbline Advisers increased its holdings in shares of 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 purchasing an additional 5,320 shares during the period. Dimensional Fund Advisors LP acquired a new position in shares of Acrivon Therapeutics during the second quarter valued at $58,000. XTX Topco Ltd acquired a new position in shares of Acrivon Therapeutics during the second quarter valued at $61,000. Finally, Marshall Wace LLP increased its holdings in shares of Acrivon Therapeutics by 58.8% during the second quarter. Marshall Wace LLP now owns 948,866 shares of the company’s stock valued at $5,503,000 after purchasing an additional 351,397 shares during the period. 71.62% of the stock is owned by institutional investors and hedge funds.

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.