Acrivon Therapeutics (NASDAQ:ACRV) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Acrivon Therapeutics (NASDAQ:ACRV) in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a $20.00 target price on the stock.

A number of other research analysts have also recently commented on ACRV. JMP Securities reiterated a market outperform rating and issued a $14.00 price target on shares of Acrivon Therapeutics in a research note on Monday, April 1st. BMO Capital Markets reiterated an outperform rating and issued a $18.00 price target on shares of Acrivon Therapeutics in a research note on Monday, April 1st. Finally, LADENBURG THALM/SH SH dropped their price target on Acrivon Therapeutics from $18.00 to $14.00 and set a buy rating for the company in a research note on Friday, April 5th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $21.75.

Acrivon Therapeutics Price Performance

NASDAQ ACRV opened at $8.47 on Thursday. The business has a fifty day moving average price of $6.56 and a two-hundred day moving average price of $5.35. Acrivon Therapeutics has a fifty-two week low of $3.19 and a fifty-two week high of $14.30. The stock has a market capitalization of $191.76 million, a PE ratio of -3.10 and a beta of 1.94.

Acrivon Therapeutics (NASDAQ:ACRV) last released its earnings results on Thursday, March 28th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.14). As a group, sell-side analysts expect that Acrivon Therapeutics will post -3.3 earnings per share for the current year.

Insider Activity at Acrivon Therapeutics

In other Acrivon Therapeutics news, major shareholder Perceptive Advisors Llc purchased 2,353,000 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was purchased at an average cost of $8.50 per share, for a total transaction of $20,000,500.00. Following the acquisition, the insider now owns 5,360,858 shares in the company, valued at approximately $45,567,293. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 7.30% of the stock is currently owned by company insiders.

Institutional Trading of Acrivon Therapeutics

An institutional investor recently raised its position in Acrivon Therapeutics stock. Exchange Traded Concepts LLC increased its position in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,289 shares of the company’s stock after buying an additional 3,370 shares during the period. Exchange Traded Concepts LLC owned 0.06% of Acrivon Therapeutics worth $65,000 at the end of the most recent reporting period. 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.