HC Wainwright Has Negative Outlook for ACRV FY2024 Earnings

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) – Equities researchers at HC Wainwright lowered their FY2024 earnings per share (EPS) estimates for Acrivon Therapeutics in a research report issued on Wednesday, November 13th. HC Wainwright analyst E. Bodnar now expects that the company will post earnings per share of ($2.45) for the year, down from their prior forecast of ($2.31). HC Wainwright has a “Buy” rating and a $22.00 price objective on the stock. The consensus estimate for Acrivon Therapeutics’ current full-year earnings is ($2.45) per share. HC Wainwright also issued estimates for Acrivon Therapeutics’ Q4 2024 earnings at ($0.61) EPS, FY2025 earnings at ($3.43) EPS, FY2026 earnings at ($3.40) EPS, FY2027 earnings at ($2.23) EPS and FY2028 earnings at ($1.49) EPS.

Several other analysts have also issued reports on the stock. LADENBURG THALM/SH SH raised shares of Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Monday, September 16th. Piper Sandler Companies restated a “buy” rating and set a $30.00 price objective on shares of Acrivon Therapeutics in a research note on Friday, September 6th. BMO Capital Markets cut their target price on shares of Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, November 14th. Finally, JMP Securities reissued a “market outperform” rating and set a $17.00 price target on shares of Acrivon Therapeutics in a research report on Monday, September 16th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $23.67.

Acrivon Therapeutics Trading Down 9.9 %

NASDAQ ACRV opened at $6.27 on Monday. Acrivon Therapeutics has a 12 month low of $3.19 and a 12 month high of $11.90. The stock has a 50 day moving average of $7.75 and a 200-day moving average of $7.76. The company has a market cap of $195.25 million, a PE ratio of -2.32 and a beta of 0.66.

Hedge Funds Weigh In On Acrivon Therapeutics

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Acrivon Therapeutics by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 507,185 shares of the company’s stock worth $3,626,000 after buying an additional 31,208 shares during the period. American International Group Inc. raised its holdings in 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 acquiring an additional 1,695 shares during the period. Baker BROS. Advisors LP acquired a new stake in Acrivon Therapeutics during the first quarter worth approximately $378,000. Bank of New York Mellon Corp boosted its holdings in shares of Acrivon Therapeutics by 50.1% during the second 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 during the period. Finally, Rhumbline Advisers boosted 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 worth $94,000 after acquiring an additional 5,320 shares during the period. 71.62% of the stock is owned by institutional investors.

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.