BMO Capital Markets Reaffirms “Outperform” Rating for Acrivon Therapeutics (NASDAQ:ACRV)

BMO Capital Markets reiterated their outperform rating on shares of Acrivon Therapeutics (NASDAQ:ACRV) in a report issued on Monday, Benzinga reports. They currently have a $28.00 price target on the stock, up from their previous price target of $25.00.

A number of other analysts have also recently issued reports on ACRV. HC Wainwright reiterated a buy rating and set a $22.00 target price on shares of Acrivon Therapeutics in a report on Monday. Piper Sandler Companies reiterated a buy rating and set a $30.00 target price on shares of Acrivon Therapeutics in a report on Friday, September 6th. Finally, LADENBURG THALM/SH SH upgraded Acrivon Therapeutics from a neutral rating to a buy rating and set a $16.00 target price for the company in a report on Monday. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of Buy and a consensus target price of $23.86.

Acrivon Therapeutics Stock Performance

Shares of NASDAQ:ACRV opened at $7.59 on Monday. Acrivon Therapeutics has a 1 year low of $3.19 and a 1 year high of $11.90. The stock has a market capitalization of $234.36 million, a P/E ratio of -2.65 and a beta of 0.81. The stock has a 50-day simple moving average of $8.19 and a 200-day simple moving average of $7.68.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its earnings results on Tuesday, August 13th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.08. Analysts predict that Acrivon Therapeutics will post -2.4 earnings per share for the current year.

Hedge Funds Weigh In On Acrivon Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. American International Group Inc. lifted its position in Acrivon Therapeutics by 39.2% during the 1st quarter. American International Group Inc. now owns 6,016 shares of the company’s stock worth $43,000 after acquiring an additional 1,695 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in Acrivon Therapeutics during the 2nd quarter worth approximately $58,000. XTX Topco Ltd acquired a new position in Acrivon Therapeutics during the 2nd quarter worth approximately $61,000. Rhumbline Advisers raised its position in shares of Acrivon Therapeutics by 48.9% in the 2nd quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock valued at $94,000 after purchasing an additional 5,320 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Acrivon Therapeutics by 50.1% in the 2nd 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 in the last quarter. 71.62% of the stock is 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.