Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Receives $20.14 Average PT from Analysts

Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) have earned a consensus recommendation of “Buy” from the eight analysts that are covering the company, Marketbeat reports. Eight analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $22.63.

Several analysts have recently commented on ACRV shares. HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of Acrivon Therapeutics in a report on Thursday. Piper Sandler raised their price target on Acrivon Therapeutics from $26.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday. JMP Securities raised their price target on Acrivon Therapeutics from $14.00 to $17.00 and gave the company a “market outperform” rating in a report on Thursday. LADENBURG THALM/SH SH reduced their price target on Acrivon Therapeutics from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, April 5th. Finally, BMO Capital Markets lifted their price objective on Acrivon Therapeutics from $18.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday.

Acrivon Therapeutics Trading Down 0.1 %

Acrivon Therapeutics stock opened at $8.46 on Friday. The stock has a 50 day moving average of $6.65 and a two-hundred day moving average of $5.37. The stock has a market capitalization of $191.53 million, a price-to-earnings ratio of -3.10 and a beta of 1.94. Acrivon Therapeutics has a twelve month low of $3.19 and a twelve month high of $14.30.

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

Insider Buying and Selling

In other news, major shareholder Perceptive Advisors Llc acquired 2,353,000 shares of Acrivon Therapeutics stock in a transaction that occurred on Thursday, April 11th. The stock was purchased at an average cost of $8.50 per share, with a total value of $20,000,500.00. Following the completion of the acquisition, the insider now owns 5,360,858 shares in the company, valued at approximately $45,567,293. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Acrivon Therapeutics

A hedge fund recently raised its stake in Acrivon Therapeutics stock. Exchange Traded Concepts LLC grew its stake in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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. Hedge funds and other institutional investors own 71.62% of the company’s stock.

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.