Acrivon Therapeutics (NASDAQ:ACRV) PT Raised to $30.00

Acrivon Therapeutics (NASDAQ:ACRV) had its price objective boosted by Piper Sandler from $26.00 to $30.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 254.61% from the company’s current price.

Other equities analysts have also issued research reports about the company. LADENBURG THALM/SH SH cut their target price on Acrivon Therapeutics from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of Acrivon Therapeutics in a report on Thursday. JMP Securities restated a “market outperform” rating and issued a $14.00 price target on shares of Acrivon Therapeutics in a report on Monday, April 1st. Finally, BMO Capital Markets restated an “outperform” rating and issued a $18.00 price target on shares of Acrivon Therapeutics in a report on Monday, April 1st. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $22.63.

Acrivon Therapeutics Trading Down 0.1 %

NASDAQ:ACRV 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 business’s 50-day moving average price is $6.65 and its two-hundred day moving average price is $5.37. The firm has a market capitalization 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). Sell-side analysts predict that Acrivon Therapeutics will post -3.3 earnings per share for the current year.

Insider Activity at Acrivon Therapeutics

In other Acrivon Therapeutics news, major shareholder Perceptive Advisors Llc acquired 2,353,000 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was bought at an average cost of $8.50 per share, with a total value of $20,000,500.00. Following the completion of the transaction, the insider now directly owns 5,360,858 shares in the company, valued at approximately $45,567,293. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 7.30% of the company’s stock.

Institutional Trading of Acrivon Therapeutics

An institutional investor recently raised its position in Acrivon Therapeutics stock. Exchange Traded Concepts LLC grew its holdings in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 quarter. 71.62% of the stock is currently owned by hedge funds and other institutional investors.

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.