Acrivon Therapeutics’ (ACRV) “Buy” Rating Reaffirmed at HC Wainwright

Acrivon Therapeutics (NASDAQ:ACRV)‘s stock had its “buy” rating reiterated by HC Wainwright in a research note issued to investors on Monday, Benzinga reports. They presently have a $22.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 146.91% from the stock’s previous close.

Other analysts have also issued reports about the company. Piper Sandler Companies reissued a “buy” rating and issued a $30.00 price target on shares of Acrivon Therapeutics in a research note on Friday, September 6th. LADENBURG THALM/SH SH raised Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Monday. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $23.43.

Acrivon Therapeutics Stock Down 3.6 %

ACRV opened at $8.91 on Monday. The firm has a market cap of $275.11 million, a P/E ratio of -3.09 and a beta of 0.81. Acrivon Therapeutics has a 52 week low of $3.19 and a 52 week high of $11.90. The business’s fifty day simple moving average is $8.15 and its 200 day simple moving average is $7.65.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.08. As a group, equities analysts expect that Acrivon Therapeutics will post -2.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Acrivon Therapeutics

A number of large investors have recently modified their holdings of ACRV. Vanguard Group Inc. raised its holdings in shares of Acrivon Therapeutics by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 507,185 shares of the company’s stock worth $3,626,000 after purchasing an additional 31,208 shares during the period. American International Group Inc. raised its holdings 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 worth $43,000 after purchasing an additional 1,695 shares during the period. Baker BROS. Advisors LP purchased a new position in shares of Acrivon Therapeutics in the 1st quarter worth about $378,000. Bank of New York Mellon Corp raised its holdings 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 purchasing an additional 12,219 shares during the period. Finally, Rhumbline Advisers raised its holdings 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 purchasing an additional 5,320 shares during the period. 71.62% of the stock is currently owned by hedge funds and other institutional investors.

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.