Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Receives $23.67 Average Target Price from Brokerages

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) has received an average recommendation of “Buy” from the six brokerages that are currently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have covered the stock in the last year is $23.67.

Several equities analysts have recently weighed in on ACRV shares. HC Wainwright reiterated a “buy” rating and issued a $22.00 price objective on shares of Acrivon Therapeutics in a research note on Thursday, November 14th. BMO Capital Markets decreased their price target on shares of Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, November 14th.

Acrivon Therapeutics Stock Down 0.9 %

Shares of NASDAQ ACRV opened at $5.60 on Monday. The firm’s 50-day moving average price is $6.49 and its 200-day moving average price is $7.42. Acrivon Therapeutics has a 52-week low of $3.19 and a 52-week high of $11.90. The company has a market cap of $174.38 million, a PE ratio of -2.07 and a beta of 0.77.

Institutional Trading of Acrivon Therapeutics

A number of large investors have recently added to or reduced their stakes in ACRV. Perceptive Advisors LLC raised its position in Acrivon Therapeutics by 78.2% during the second quarter. Perceptive Advisors LLC now owns 5,360,858 shares of the company’s stock valued at $31,093,000 after purchasing an additional 2,353,000 shares during the period. Marshall Wace LLP lifted its position in Acrivon Therapeutics by 58.8% in the second quarter. Marshall Wace LLP now owns 948,866 shares of the company’s stock worth $5,503,000 after buying an additional 351,397 shares during the last quarter. State Street Corp boosted its stake in Acrivon Therapeutics by 26.4% during the third quarter. State Street Corp now owns 225,896 shares of the company’s stock worth $1,581,000 after buying an additional 47,233 shares during the period. Exome Asset Management LLC bought a new position in Acrivon Therapeutics during the third quarter valued at $817,000. Finally, Bank of New York Mellon Corp raised its stake 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 valued at $212,000 after acquiring an additional 12,219 shares during the period. Institutional investors own 71.62% of the company’s stock.

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.