Acrivon Therapeutics’ (ACRV) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Acrivon Therapeutics (NASDAQ:ACRV) in a research report released on Thursday morning, Marketbeat Ratings reports. HC Wainwright currently has a $22.00 price target on the stock.

A number of other brokerages have also recently issued reports on ACRV. Piper Sandler Companies reissued a “buy” rating and issued a $30.00 target price on shares of Acrivon Therapeutics in a research report on Friday, September 6th. BMO Capital Markets reaffirmed an “outperform” rating and set a $28.00 target price (up from $25.00) on shares of Acrivon Therapeutics in a research report on Monday, September 16th. JMP Securities reiterated a “market outperform” rating and issued a $17.00 target price on shares of Acrivon Therapeutics in a report on Monday, September 16th. Finally, LADENBURG THALM/SH SH raised shares of Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Monday, September 16th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $23.67.

Acrivon Therapeutics Price Performance

Shares of NASDAQ ACRV traded down $0.70 during midday trading on Thursday, hitting $7.22. The stock had a trading volume of 34,850 shares, compared to its average volume of 283,039. Acrivon Therapeutics has a fifty-two week low of $3.19 and a fifty-two week high of $11.90. The firm has a market cap of $223.60 million, a P/E ratio of -2.74 and a beta of 0.66. The company’s 50-day simple moving average is $7.80 and its 200 day simple moving average is $7.81.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ACRV. American International Group Inc. raised its stake in Acrivon Therapeutics by 39.2% in the first 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. Dimensional Fund Advisors LP purchased a new position in Acrivon Therapeutics in the second quarter valued at about $58,000. XTX Topco Ltd bought a new position in Acrivon Therapeutics in the second quarter worth about $61,000. Rhumbline Advisers boosted its holdings 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 buying an additional 5,320 shares in the last quarter. Finally, Bank of New York Mellon Corp grew 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 worth $212,000 after buying an additional 12,219 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.