Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Receives $23.17 Average PT from Analysts

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) has been given a consensus recommendation of “Buy” by the eight research firms that are covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have covered the stock in the last year is $23.17.

Several analysts have weighed in on ACRV shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Acrivon Therapeutics in a report on Wednesday, March 26th. KeyCorp started coverage on shares of Acrivon Therapeutics in a report on Friday, January 31st. They issued an “overweight” rating on the stock. Finally, HC Wainwright lowered their target price on shares of Acrivon Therapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, March 26th.

Acrivon Therapeutics Trading Down 7.9 %

Shares of ACRV stock opened at $1.39 on Friday. The firm has a market capitalization of $43.58 million, a price-to-earnings ratio of -0.51 and a beta of 1.77. The firm’s 50 day moving average is $4.87 and its 200-day moving average is $6.22. Acrivon Therapeutics has a 1 year low of $1.36 and a 1 year high of $11.90.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its quarterly earnings data on Thursday, March 27th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.09. On average, equities research analysts forecast that Acrivon Therapeutics will post -2.49 earnings per share for the current fiscal year.

Institutional Trading of Acrivon Therapeutics

A number of hedge funds have recently modified their holdings of ACRV. State Street Corp increased its stake in Acrivon Therapeutics by 26.4% in 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 in the last quarter. Barclays PLC grew its holdings in shares of Acrivon Therapeutics by 51.2% in the 3rd quarter. Barclays PLC now owns 33,306 shares of the company’s stock valued at $233,000 after buying an additional 11,273 shares during the period. Exome Asset Management LLC acquired a new position in shares of Acrivon Therapeutics in the 3rd quarter valued at $817,000. JPMorgan Chase & Co. increased its position in shares of Acrivon Therapeutics by 548.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,991 shares of the company’s stock valued at $238,000 after buying an additional 28,748 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in Acrivon Therapeutics during the 4th quarter worth $40,000. 71.62% of the stock is currently 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.