Acrivon Therapeutics (NASDAQ:ACRV) Price Target Raised to $17.00 at JMP Securities

Acrivon Therapeutics (NASDAQ:ACRV) had its price objective hoisted by JMP Securities from $14.00 to $17.00 in a report released on Thursday, Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price objective suggests a potential upside of 78.20% from the company’s previous close.

Several other research firms have also recently issued reports on ACRV. BMO Capital Markets reissued an “outperform” rating and set a $18.00 price target on shares of Acrivon Therapeutics in a report on Monday, April 1st. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Acrivon Therapeutics in a report on Thursday. Piper Sandler raised their target price on Acrivon Therapeutics from $26.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday. Finally, LADENBURG THALM/SH SH cut their price target on shares of Acrivon Therapeutics from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, April 5th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Acrivon Therapeutics presently has a consensus rating of “Buy” and an average price target of $21.75.

Acrivon Therapeutics Stock Up 0.4 %

ACRV traded up $0.04 during trading on Thursday, hitting $9.54. 358,818 shares of the stock were exchanged, compared to its average volume of 604,056. The firm has a market capitalization of $215.99 million, a P/E ratio of -3.45 and a beta of 1.94. Acrivon Therapeutics has a 1-year low of $3.19 and a 1-year high of $14.30. The stock has a fifty day moving average price of $6.47 and a two-hundred day moving average price of $5.33.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its quarterly earnings results on Thursday, March 28th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.14). Analysts predict that Acrivon Therapeutics will post -3.3 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Perceptive Advisors Llc bought 2,353,000 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were acquired at an average price of $8.50 per share, for a total transaction of $20,000,500.00. Following the purchase, the insider now owns 5,360,858 shares in the company, valued at approximately $45,567,293. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 7.30% of the stock is owned by corporate insiders.

Institutional Trading of Acrivon Therapeutics

A hedge fund recently raised its stake in Acrivon Therapeutics stock. Exchange Traded Concepts LLC grew its stake in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,289 shares of the company’s stock after purchasing an additional 3,370 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.06% of Acrivon Therapeutics worth $65,000 as of its most recent SEC filing. Institutional investors 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.