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

Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) have been assigned an average recommendation of “Buy” from the six brokerages that are covering the firm, Marketbeat reports. Six analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have covered the stock in the last year is $23.67.

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets lowered their target price on shares of Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Thursday, November 14th. Piper Sandler Companies reiterated a “buy” rating and issued a $30.00 target price on shares of Acrivon Therapeutics in a report on Friday, September 6th. LADENBURG THALM/SH SH upgraded shares of Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Monday, September 16th. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 price objective on shares of Acrivon Therapeutics in a research report on Monday, September 16th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price target on shares of Acrivon Therapeutics in a report on Thursday, November 14th.

Acrivon Therapeutics Price Performance

Shares of ACRV opened at $5.92 on Thursday. Acrivon Therapeutics has a 1 year low of $3.19 and a 1 year high of $11.90. The business’s 50 day simple moving average is $7.31 and its 200-day simple moving average is $7.50. The stock has a market capitalization of $184.33 million, a price-to-earnings ratio of -2.19 and a beta of 0.55.

Institutional Investors Weigh In On Acrivon Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Perceptive Advisors LLC grew its holdings in Acrivon Therapeutics by 78.2% during the second quarter. Perceptive Advisors LLC now owns 5,360,858 shares of the company’s stock worth $31,093,000 after acquiring an additional 2,353,000 shares during the period. Sands Capital Ventures LLC increased its stake in shares of Acrivon Therapeutics by 28.4% during the second quarter. Sands Capital Ventures LLC now owns 2,122,605 shares of the company’s stock worth $12,311,000 after purchasing an additional 470,000 shares in the last quarter. Marshall Wace LLP increased its stake in Acrivon Therapeutics by 58.8% during the 2nd 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 in the last quarter. XTX Topco Ltd purchased a new stake in shares of Acrivon Therapeutics during the second quarter worth approximately $61,000. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Acrivon Therapeutics during the second quarter worth $58,000. Institutional investors and hedge funds own 71.62% of the company’s stock.

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.