Acrivon Therapeutics (NASDAQ:ACRV) Coverage Initiated by Analysts at KeyCorp

KeyCorp initiated coverage on shares of Acrivon Therapeutics (NASDAQ:ACRV) in a report issued on Friday, Marketbeat.com reports. The brokerage issued an overweight rating on the stock.

Several other research firms have also recently weighed in on ACRV. BMO Capital Markets cut their target price on Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, November 14th. HC Wainwright restated a “buy” rating and set a $22.00 price objective on shares of Acrivon Therapeutics in a research report on Thursday, November 14th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Acrivon Therapeutics presently has an average rating of “Buy” and a consensus target price of $23.67.

Acrivon Therapeutics Trading Up 4.8 %

Shares of ACRV opened at $6.07 on Friday. The stock has a market capitalization of $189.02 million, a PE ratio of -2.25 and a beta of 0.77. The firm’s 50 day moving average is $6.34 and its 200-day moving average is $7.33. Acrivon Therapeutics has a 12 month low of $3.19 and a 12 month high of $11.90.

Institutional Investors Weigh In On Acrivon Therapeutics

A number of hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. bought a new stake in Acrivon Therapeutics in the 4th quarter valued at about $40,000. Dimensional Fund Advisors LP bought a new position in Acrivon Therapeutics during the second quarter worth about $58,000. Barclays PLC increased its stake in shares of Acrivon Therapeutics by 51.2% in the third quarter. Barclays PLC now owns 33,306 shares of the company’s stock worth $233,000 after purchasing an additional 11,273 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Acrivon Therapeutics by 548.3% in the third quarter. JPMorgan Chase & Co. now owns 33,991 shares of the company’s stock valued at $238,000 after purchasing an additional 28,748 shares during the period. Finally, Exome Asset Management LLC purchased a new stake in shares of Acrivon Therapeutics during the 3rd quarter valued at approximately $817,000. 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.