Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Receives $23.67 Consensus Target Price from Analysts

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) has been assigned a consensus rating of “Buy” from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have covered the stock in the last year is $23.67.

Several equities analysts have weighed in on ACRV shares. Cantor Fitzgerald started coverage on Acrivon Therapeutics in a research note on Friday, January 31st. They set an “overweight” rating on the stock. HC Wainwright reissued a “buy” rating and set a $22.00 price target on shares of Acrivon Therapeutics in a research report on Thursday, November 14th. BMO Capital Markets cut their price target on shares of Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Thursday, November 14th. Finally, KeyCorp started coverage on shares of Acrivon Therapeutics in a research note on Friday, January 31st. They issued an “overweight” rating for the company.

Acrivon Therapeutics Stock Down 4.9 %

ACRV stock opened at $5.07 on Tuesday. The firm has a market capitalization of $157.86 million, a PE ratio of -1.88 and a beta of 0.85. Acrivon Therapeutics has a twelve month low of $4.69 and a twelve month high of $11.90. The stock’s 50 day moving average is $5.65 and its 200-day moving average is $6.87.

Institutional Trading of Acrivon Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Acorn Capital Advisors LLC purchased a new stake in shares of Acrivon Therapeutics during the 4th quarter worth approximately $2,440,000. Exome Asset Management LLC purchased a new position in Acrivon Therapeutics in the third quarter valued at approximately $817,000. State Street Corp grew its holdings in Acrivon Therapeutics by 26.4% during the third quarter. State Street Corp now owns 225,896 shares of the company’s stock valued at $1,581,000 after purchasing an additional 47,233 shares during the period. JPMorgan Chase & Co. increased its position in Acrivon Therapeutics by 548.3% in the third quarter. JPMorgan Chase & Co. now owns 33,991 shares of the company’s stock worth $238,000 after buying an additional 28,748 shares during the last quarter. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Acrivon Therapeutics by 29.7% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 102,784 shares of the company’s stock worth $619,000 after buying an additional 23,535 shares during the last quarter. 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.