Acrivon Therapeutics (NASDAQ:ACRV) Given New $25.00 Price Target at BMO Capital Markets

Acrivon Therapeutics (NASDAQ:ACRV) had its price target upped by BMO Capital Markets from $18.00 to $25.00 in a report released on Friday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on ACRV. JMP Securities lifted their target price on Acrivon Therapeutics from $14.00 to $17.00 and gave the stock a market outperform rating in a report on Thursday, April 25th. HC Wainwright reiterated a buy rating and issued a $20.00 price objective on shares of Acrivon Therapeutics in a research note on Thursday, April 25th. Piper Sandler increased their target price on shares of Acrivon Therapeutics from $26.00 to $30.00 and gave the stock an overweight rating in a research note on Thursday, April 25th. Finally, LADENBURG THALM/SH SH reduced their price target on shares of Acrivon Therapeutics from $18.00 to $14.00 and set a buy rating for the company in a report on Friday, April 5th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $22.63.

Acrivon Therapeutics Stock Up 18.2 %

Shares of Acrivon Therapeutics stock opened at $10.00 on Friday. The stock has a market cap of $226.40 million, a price-to-earnings ratio of -3.66 and a beta of 1.93. Acrivon Therapeutics has a twelve month low of $3.19 and a twelve month high of $14.30. The company’s fifty day moving average is $6.77 and its 200 day moving average is $5.37.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its quarterly earnings data on Thursday, March 28th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.14). As a group, equities analysts anticipate that Acrivon Therapeutics will post -3.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Acrivon Therapeutics

In related news, major shareholder Perceptive Advisors Llc purchased 2,353,000 shares of Acrivon Therapeutics stock in a transaction that occurred on Thursday, April 11th. The stock was bought at an average price of $8.50 per share, for a total transaction of $20,000,500.00. Following the completion of the transaction, the insider now owns 5,360,858 shares in the company, valued at $45,567,293. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On Acrivon Therapeutics

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

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.