Brokerages Set Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Target Price at $23.86

Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) have received an average rating of “Buy” from the seven research firms that are covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $23.86.

Several research firms have recently issued reports on ACRV. Piper Sandler Companies restated a “buy” rating and set a $30.00 price objective on shares of Acrivon Therapeutics in a report on Friday, September 6th. JMP Securities reissued a “market outperform” rating and issued a $17.00 price target on shares of Acrivon Therapeutics in a research note on Monday, September 16th. BMO Capital Markets reaffirmed an “outperform” rating and set a $28.00 price objective (up previously from $25.00) on shares of Acrivon Therapeutics in a research note on Monday, September 16th. HC Wainwright reissued a “buy” rating and issued a $22.00 target price on shares of Acrivon Therapeutics in a research report on Monday, September 16th. Finally, LADENBURG THALM/SH SH raised shares of Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Monday, September 16th.

Acrivon Therapeutics Trading Down 1.6 %

Shares of ACRV stock opened at $7.47 on Tuesday. Acrivon Therapeutics has a twelve month low of $3.19 and a twelve month high of $11.90. The company has a market capitalization of $230.65 million, a price-to-earnings ratio of -2.59 and a beta of 0.81. The firm has a 50-day moving average price of $8.18 and a 200 day moving average price of $7.70.

Acrivon Therapeutics (NASDAQ:ACRV) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.60) by $0.08. As a group, research analysts predict that Acrivon Therapeutics will post -2.4 earnings per share for the current year.

Institutional Investors Weigh In On Acrivon Therapeutics

Several institutional investors have recently bought and sold shares of ACRV. Perceptive Advisors LLC lifted its holdings in shares of Acrivon Therapeutics by 78.2% during the 2nd quarter. Perceptive Advisors LLC now owns 5,360,858 shares of the company’s stock valued at $31,093,000 after acquiring an additional 2,353,000 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Acrivon Therapeutics by 58.8% during the second quarter. Marshall Wace LLP now owns 948,866 shares of the company’s stock worth $5,503,000 after purchasing an additional 351,397 shares in the last quarter. Sands Capital Ventures LLC lifted its stake in shares of Acrivon Therapeutics by 28.4% during the second quarter. Sands Capital Ventures LLC now owns 2,122,605 shares of the company’s stock worth $12,311,000 after purchasing an additional 470,000 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Acrivon Therapeutics in the second quarter worth about $61,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Acrivon Therapeutics in the second quarter valued at about $58,000. 71.62% of the stock is currently owned by hedge funds and other institutional investors.

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.