Piper Sandler Raises Acrivon Therapeutics (NASDAQ:ACRV) Price Target to $30.00

Acrivon Therapeutics (NASDAQ:ACRV) had its target price upped by Piper Sandler from $26.00 to $30.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also weighed in on ACRV. LADENBURG THALM/SH SH lowered their target price on shares of Acrivon Therapeutics from $18.00 to $14.00 and set a buy rating for the company in a research note on Friday, April 5th. JMP Securities restated a market outperform rating and set a $14.00 price target on shares of Acrivon Therapeutics in a research report on Monday, April 1st. BMO Capital Markets restated an outperform rating and set a $18.00 price target on shares of Acrivon Therapeutics in a research report on Monday, April 1st. Finally, HC Wainwright restated a buy rating and set a $20.00 price target on shares of Acrivon Therapeutics in a research report on Thursday. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of Buy and an average price target of $22.63.

Acrivon Therapeutics Price Performance

ACRV stock opened at $8.46 on Thursday. Acrivon Therapeutics has a 1-year low of $3.19 and a 1-year high of $14.30. The firm has a fifty day moving average price of $6.65 and a two-hundred day moving average price of $5.36. The firm has a market cap of $191.53 million, a price-to-earnings ratio of -3.10 and a beta of 1.94.

Acrivon Therapeutics (NASDAQ:ACRV) last released its earnings results on Thursday, March 28th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.14). As a group, analysts expect that Acrivon Therapeutics will post -3.3 EPS for the current fiscal year.

Insider Activity

In other Acrivon Therapeutics news, major shareholder Perceptive Advisors Llc bought 2,353,000 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were bought at an average price of $8.50 per share, for a total transaction of $20,000,500.00. Following the acquisition, the insider now directly owns 5,360,858 shares of the company’s stock, valued at $45,567,293. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 7.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Acrivon Therapeutics

A hedge fund recently raised its stake in Acrivon Therapeutics stock. Exchange Traded Concepts LLC increased its position in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,289 shares of the company’s stock after buying an additional 3,370 shares during the period. Exchange Traded Concepts LLC owned 0.06% of Acrivon Therapeutics worth $65,000 at the end of the most recent reporting period. 71.62% of the stock is owned by institutional investors and hedge funds.

About Acrivon Therapeutics

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.