Brokerages Set Acrivon Therapeutics, Inc. (NASDAQ:ACRV) PT at $23.67

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) has been given a consensus rating of “Buy” by the six analysts that are covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have covered the stock in the last year is $23.67.

Several equities research analysts have recently commented on ACRV shares. HC Wainwright reaffirmed a “buy” rating and set a $22.00 target price on shares of Acrivon Therapeutics in a report on Thursday, November 14th. Piper Sandler Companies reiterated a “buy” rating and issued a $30.00 target price on shares of Acrivon Therapeutics in a report on Friday, September 6th. LADENBURG THALM/SH SH upgraded shares of Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Monday, September 16th. JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 price objective on shares of Acrivon Therapeutics in a research note on Monday, September 16th. Finally, BMO Capital Markets cut their target price on shares of Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, November 14th.

Acrivon Therapeutics Stock Performance

Shares of NASDAQ:ACRV opened at $6.02 on Thursday. The company has a market capitalization of $187.44 million, a PE ratio of -2.23 and a beta of 0.55. The stock has a fifty day moving average of $7.18 and a 200-day moving average of $7.47. Acrivon Therapeutics has a one year low of $3.19 and a one year high of $11.90.

Institutional Investors Weigh In On Acrivon Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP purchased a new position in shares of Acrivon Therapeutics during the 2nd quarter valued at $58,000. XTX Topco Ltd purchased a new position in Acrivon Therapeutics in the second quarter valued at about $61,000. Rhumbline Advisers increased its position in Acrivon Therapeutics by 48.9% in 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 last quarter. Bank of New York Mellon Corp raised its stake in shares of Acrivon Therapeutics by 50.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company’s stock worth $212,000 after purchasing an additional 12,219 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Acrivon Therapeutics by 51.2% during 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 last quarter. Hedge funds and other institutional investors own 71.62% of the company’s stock.

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.