HC Wainwright Reiterates Buy Rating for Acrivon Therapeutics (NASDAQ:ACRV)

Acrivon Therapeutics (NASDAQ:ACRV)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research report issued on Thursday,Benzinga reports. They presently have a $22.00 target price on the stock. HC Wainwright’s price objective would suggest a potential upside of 177.43% from the stock’s current price.

Several other equities research analysts have also recently commented on ACRV. 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 research report on Monday, September 16th. JMP Securities reissued a “market outperform” rating and set a $17.00 target price on shares of Acrivon Therapeutics in a research note on Monday, September 16th. Piper Sandler Companies reaffirmed a “buy” rating and issued a $30.00 price target on shares of Acrivon Therapeutics in a report on Friday, September 6th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $28.00 target price (up from $25.00) on shares of Acrivon Therapeutics in a report on Monday, September 16th. Six equities research 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 $23.83.

Acrivon Therapeutics Trading Down 5.5 %

Shares of NASDAQ:ACRV opened at $7.93 on Thursday. Acrivon Therapeutics has a twelve month low of $3.19 and a twelve month high of $11.90. The firm has a market cap of $245.59 million, a P/E ratio of -2.86 and a beta of 0.66. The company has a 50 day moving average of $7.81 and a 200-day moving average of $7.81.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.60) by $0.08. Equities research analysts forecast that Acrivon Therapeutics will post -2.4 EPS for the current year.

Institutional Trading of Acrivon Therapeutics

Several institutional investors have recently made changes to their positions in the stock. American International Group Inc. lifted its position in Acrivon Therapeutics by 39.2% in the 1st quarter. American International Group Inc. now owns 6,016 shares of the company’s stock worth $43,000 after buying an additional 1,695 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Acrivon Therapeutics by 48.9% in the second quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock worth $94,000 after acquiring an additional 5,320 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Acrivon Therapeutics during the second quarter worth $58,000. XTX Topco Ltd purchased a new stake in shares of Acrivon Therapeutics during the second quarter worth $61,000. Finally, Bank of New York Mellon Corp boosted its position in Acrivon Therapeutics by 50.1% during the second 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. 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.