Bank of New York Mellon Corp Has $212,000 Stock Holdings in Acrivon Therapeutics, Inc. (NASDAQ:ACRV)

Bank of New York Mellon Corp increased its stake in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 50.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 36,632 shares of the company’s stock after acquiring an additional 12,219 shares during the quarter. Bank of New York Mellon Corp’s holdings in Acrivon Therapeutics were worth $212,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of ACRV. Vanguard Group Inc. lifted its position in Acrivon Therapeutics by 6.6% during the first quarter. Vanguard Group Inc. now owns 507,185 shares of the company’s stock worth $3,626,000 after acquiring an additional 31,208 shares during the last quarter. American International Group Inc. grew its position in shares of Acrivon Therapeutics by 39.2% in the first quarter. American International Group Inc. now owns 6,016 shares of the company’s stock valued at $43,000 after purchasing an additional 1,695 shares during the last quarter. Finally, Baker BROS. Advisors LP bought a new position in shares of Acrivon Therapeutics during the first quarter worth approximately $378,000. Institutional investors and hedge funds own 71.62% of the company’s stock.

Acrivon Therapeutics Stock Up 1.3 %

ACRV opened at $7.26 on Friday. The stock has a market capitalization of $224.17 million, a price-to-earnings ratio of -2.52 and a beta of 0.81. Acrivon Therapeutics, Inc. has a twelve month low of $3.19 and a twelve month high of $11.90. The company has a 50-day simple moving average of $8.14 and a 200 day simple moving average of $7.76.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.08. Sell-side analysts anticipate that Acrivon Therapeutics, Inc. will post -2.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. JMP Securities restated a “market outperform” rating and issued a $17.00 price target on shares of Acrivon Therapeutics in a research note on Monday, September 16th. Piper Sandler Companies reissued a “buy” rating and issued a $30.00 target price on shares of Acrivon Therapeutics in a research report on Friday, September 6th. 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. BMO Capital Markets reiterated an “outperform” rating and issued a $28.00 price objective (up previously from $25.00) on shares of Acrivon Therapeutics in a research note on Monday, September 16th. Finally, HC Wainwright restated a “buy” rating and set a $22.00 target price on shares of Acrivon Therapeutics in a research report on Monday, September 16th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $23.86.

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.