BMO Capital Markets Cuts Acrivon Therapeutics (NASDAQ:ACRV) Price Target to $27.00

Acrivon Therapeutics (NASDAQ:ACRV) had its price target reduced by BMO Capital Markets from $28.00 to $27.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

ACRV has been the topic of a number of other research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 price target on shares of Acrivon Therapeutics in a research report on Monday, September 16th. HC Wainwright reiterated a “buy” rating and issued a $22.00 price objective on shares of Acrivon Therapeutics in a report on Thursday. LADENBURG THALM/SH SH upgraded Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Monday, September 16th. Finally, Piper Sandler Companies reiterated a “buy” rating and issued a $30.00 price target on shares of Acrivon Therapeutics in a research note on Friday, September 6th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Acrivon Therapeutics currently has an average rating of “Buy” and a consensus price target of $23.67.

Acrivon Therapeutics Stock Down 12.1 %

NASDAQ:ACRV opened at $6.96 on Thursday. The stock’s fifty day moving average is $7.78 and its two-hundred day moving average is $7.78. Acrivon Therapeutics has a 52 week low of $3.19 and a 52 week high of $11.90. The company has a market capitalization of $215.57 million, a P/E ratio of -2.58 and a beta of 0.66.

Institutional Trading of Acrivon Therapeutics

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Acrivon Therapeutics by 6.6% in the first quarter. Vanguard Group Inc. now owns 507,185 shares of the company’s stock valued at $3,626,000 after buying an additional 31,208 shares during the last quarter. American International Group Inc. increased its holdings in shares of Acrivon Therapeutics by 39.2% in the 1st quarter. American International Group Inc. now owns 6,016 shares of the company’s stock valued at $43,000 after acquiring an additional 1,695 shares during the period. Baker BROS. Advisors LP purchased a new stake in Acrivon Therapeutics in the 1st quarter valued at $378,000. Bank of New York Mellon Corp raised its position in Acrivon Therapeutics by 50.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company’s stock valued at $212,000 after purchasing an additional 12,219 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Acrivon Therapeutics by 48.9% during the 2nd quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock worth $94,000 after purchasing an additional 5,320 shares during the period. 71.62% of the stock is owned by institutional investors and hedge funds.

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.