BMO Capital Markets Raises Acrivon Therapeutics (NASDAQ:ACRV) Price Target to $25.00

Acrivon Therapeutics (NASDAQ:ACRV) had its price objective lifted by research analysts at BMO Capital Markets from $18.00 to $25.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective suggests a potential upside of 194.81% from the company’s previous close.

Other equities analysts have also issued research reports about the company. LADENBURG THALM/SH SH reduced their price objective 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. HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Acrivon Therapeutics in a research note on Thursday. JMP Securities lifted their price target on Acrivon Therapeutics from $14.00 to $17.00 and gave the company a “market outperform” rating in a research note on Thursday. Finally, Piper Sandler lifted their price target on Acrivon Therapeutics from $26.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Acrivon Therapeutics presently has an average rating of “Buy” and an average target price of $22.63.

Acrivon Therapeutics Stock Performance

ACRV stock traded up $0.01 during midday trading on Friday, reaching $8.48. The stock had a trading volume of 188,210 shares, compared to its average volume of 603,051. The stock has a market cap of $191.99 million, a PE ratio of -3.07 and a beta of 1.94. The firm has a fifty day simple moving average of $6.56 and a two-hundred day simple moving average of $5.35. Acrivon Therapeutics has a 52-week low of $3.19 and a 52-week high of $14.30.

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

Insider Buying and Selling

In other news, major shareholder Perceptive Advisors Llc acquired 2,353,000 shares of the stock in a transaction that occurred on Thursday, April 11th. The shares were bought 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Acrivon Therapeutics stock. Exchange Traded Concepts LLC boosted its holdings in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,289 shares of the company’s stock after acquiring 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 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.