Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) have received a consensus rating of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $22.57.

Several equities analysts recently issued reports on ACRV shares. BMO Capital Markets reiterated an “outperform” rating and issued a $25.00 price objective on shares of Acrivon Therapeutics in a research report on Wednesday, May 15th. Piper Sandler boosted their price objective on Acrivon Therapeutics from $26.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. JMP Securities boosted their price objective on Acrivon Therapeutics from $14.00 to $17.00 and gave the company a “market outperform” rating in a research report on Thursday, April 25th. HC Wainwright upped their price target on Acrivon Therapeutics from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Finally, LADENBURG THALM/SH SH downgraded Acrivon Therapeutics from a “buy” rating to a “neutral” rating in a research report on Monday, April 29th.

Insider Buying and Selling at Acrivon Therapeutics

In other news, major shareholder Perceptive Advisors Llc purchased 2,353,000 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were purchased at an average cost of $8.50 per share, with a total value of $20,000,500.00. Following the completion of the purchase, the insider now owns 5,360,858 shares of the company’s stock, valued at approximately $45,567,293. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Acrivon Therapeutics

Several institutional investors have recently bought and sold shares of the stock. Exchange Traded Concepts LLC raised its holdings in shares of Acrivon Therapeutics by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 13,289 shares of the company’s stock valued at $65,000 after acquiring an additional 3,370 shares in the last quarter. 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 valued at $3,626,000 after acquiring an additional 31,208 shares in the last quarter. 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 valued at $43,000 after acquiring an additional 1,695 shares in the last quarter. Finally, Baker BROS. Advisors LP purchased a new stake in shares of Acrivon Therapeutics in the 1st quarter valued at about $378,000. Institutional investors own 71.62% of the company’s stock.

Acrivon Therapeutics Trading Up 1.0 %

Acrivon Therapeutics stock opened at $6.14 on Thursday. The firm has a market capitalization of $189.58 million, a P/E ratio of -2.13 and a beta of 0.87. Acrivon Therapeutics has a 1 year low of $3.19 and a 1 year high of $13.50. The business has a 50-day moving average of $7.66 and a 200-day moving average of $6.24.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its earnings results on Tuesday, May 14th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.16. Research analysts anticipate that Acrivon Therapeutics will post -2.47 EPS for the current fiscal year.

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.