Acrivon Therapeutics’ (ACRV) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Acrivon Therapeutics (NASDAQ:ACRV) in a report published on Wednesday,Benzinga reports.

Several other research analysts have also weighed in on ACRV. KeyCorp assumed coverage on Acrivon Therapeutics in a research note on Friday, January 31st. They set an “overweight” rating for the company. HC Wainwright dropped their price objective on Acrivon Therapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Acrivon Therapeutics presently has a consensus rating of “Buy” and an average price target of $23.17.

Acrivon Therapeutics Stock Performance

Acrivon Therapeutics stock opened at $2.24 on Wednesday. Acrivon Therapeutics has a twelve month low of $2.14 and a twelve month high of $11.90. The firm has a market cap of $69.74 million, a PE ratio of -0.83 and a beta of 0.85. The firm’s 50 day moving average price is $5.35 and its two-hundred day moving average price is $6.53.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its quarterly earnings results on Thursday, March 27th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.06. Equities analysts anticipate that Acrivon Therapeutics will post -2.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Barclays PLC boosted its position in Acrivon Therapeutics by 51.2% during the third quarter. Barclays PLC now owns 33,306 shares of the company’s stock worth $233,000 after purchasing an additional 11,273 shares during the period. State Street Corp lifted its stake in shares of Acrivon Therapeutics by 26.4% in the third quarter. State Street Corp now owns 225,896 shares of the company’s stock worth $1,581,000 after buying an additional 47,233 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Acrivon Therapeutics by 548.3% during the 3rd 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 period. Exome Asset Management LLC acquired a new position in Acrivon Therapeutics in the 3rd quarter valued at $817,000. Finally, China Universal Asset Management Co. Ltd. acquired a new position in Acrivon Therapeutics in the 4th quarter valued at $40,000. Institutional investors and hedge funds 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.