HC Wainwright Reaffirms “Buy” Rating for Acrivon Therapeutics (NASDAQ:ACRV)

Acrivon Therapeutics (NASDAQ:ACRV)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a research note issued to investors on Thursday, Benzinga reports. They presently have a $20.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 179.72% from the company’s current price.

Separately, JMP Securities assumed coverage on Acrivon Therapeutics in a research report on Friday, March 1st. They issued a “mkt outperform” rating and a $14.00 price target on the stock. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $22.14.

Acrivon Therapeutics Price Performance

ACRV stock traded up $0.68 during mid-day trading on Thursday, hitting $7.15. 21,751 shares of the stock were exchanged, compared to its average volume of 74,955. The stock has a market capitalization of $158.66 million, a price-to-earnings ratio of -2.61 and a beta of 1.70. The business has a fifty day moving average price of $4.58 and a 200 day moving average price of $5.47. Acrivon Therapeutics has a 12 month low of $3.19 and a 12 month high of $14.39.

Hedge Funds Weigh In On Acrivon Therapeutics

Several institutional investors have recently bought and sold shares of ACRV. Wells Fargo & Company MN lifted its stake in shares of Acrivon Therapeutics by 108.1% during the second quarter. Wells Fargo & Company MN now owns 3,305 shares of the company’s stock worth $43,000 after buying an additional 1,717 shares during the period. Bank of New York Mellon Corp lifted its position in Acrivon Therapeutics by 8.6% during the second quarter. Bank of New York Mellon Corp now owns 24,795 shares of the company’s stock valued at $321,000 after purchasing an additional 1,958 shares during the period. New York State Common Retirement Fund purchased a new position in Acrivon Therapeutics in the first quarter valued at $28,000. Citigroup Inc. increased its holdings in Acrivon Therapeutics by 1,281.2% in the second quarter. Citigroup Inc. now owns 2,790 shares of the company’s stock valued at $36,000 after buying an additional 2,588 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Acrivon Therapeutics by 4.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 60,958 shares of the company’s stock valued at $790,000 after buying an additional 2,749 shares in the last quarter. 71.62% of the stock is owned by hedge funds and other institutional investors.

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.