Acrivon Therapeutics’ (ACRV) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of Acrivon Therapeutics (NASDAQ:ACRV) in a research note released on Monday morning, Benzinga reports. JMP Securities currently has a $17.00 price target on the stock.

A number of other equities research analysts also recently weighed in on the company. LADENBURG THALM/SH SH raised Acrivon Therapeutics from a neutral rating to a buy rating and set a $16.00 price target for the company in a research note on Monday. HC Wainwright reissued a buy rating and issued a $22.00 price objective on shares of Acrivon Therapeutics in a research note on Monday. Piper Sandler Companies reissued a buy rating and issued a $30.00 price objective on shares of Acrivon Therapeutics in a research note on Friday, September 6th. Finally, BMO Capital Markets reissued an outperform rating and issued a $28.00 price objective (up from $25.00) on shares of Acrivon Therapeutics in a research note on Monday. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Acrivon Therapeutics has an average rating of Buy and a consensus price target of $23.86.

Acrivon Therapeutics Price Performance

ACRV opened at $7.59 on Monday. Acrivon Therapeutics has a fifty-two week low of $3.19 and a fifty-two week high of $11.90. The business has a 50-day moving average of $8.19 and a 200-day moving average of $7.68. The company has a market capitalization of $234.36 million, a PE ratio of -2.65 and a beta of 0.81.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.08. On average, equities research analysts expect that Acrivon Therapeutics will post -2.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ACRV. Perceptive Advisors LLC increased its stake in Acrivon Therapeutics by 78.2% in the second 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 during the period. Sands Capital Ventures LLC grew its stake in shares of Acrivon Therapeutics by 28.4% in the 2nd quarter. Sands Capital Ventures LLC now owns 2,122,605 shares of the company’s stock valued at $12,311,000 after purchasing an additional 470,000 shares during the period. Marshall Wace LLP raised its holdings in shares of Acrivon Therapeutics by 58.8% in the 2nd quarter. Marshall Wace LLP now owns 948,866 shares of the company’s stock worth $5,503,000 after buying an additional 351,397 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Acrivon Therapeutics by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 507,185 shares of the company’s stock worth $3,626,000 after buying an additional 31,208 shares in the last quarter. Finally, Baker BROS. Advisors LP bought a new position in shares of Acrivon Therapeutics during the 1st quarter worth approximately $378,000. 71.62% of the stock is owned by institutional investors.

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.