JMP Securities Increases Acrivon Therapeutics (NASDAQ:ACRV) Price Target to $17.00

Acrivon Therapeutics (NASDAQ:ACRV) had its target price increased by investment analysts at JMP Securities from $14.00 to $17.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price objective points to a potential upside of 100.95% from the company’s current price.

A number of other equities analysts have also weighed in on ACRV. LADENBURG THALM/SH SH dropped their price objective on Acrivon Therapeutics from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, April 5th. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Acrivon Therapeutics in a research note on Thursday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of Acrivon Therapeutics in a research note on Monday, April 1st. Finally, Piper Sandler upped their price objective on Acrivon Therapeutics from $26.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Acrivon Therapeutics presently has an average rating of “Buy” and a consensus price target of $22.63.

Acrivon Therapeutics Stock Down 0.1 %

Shares of ACRV opened at $8.46 on Thursday. The business has a 50-day simple moving average of $6.65 and a two-hundred day simple moving average of $5.37. The stock has a market cap of $191.53 million, a price-to-earnings ratio of -3.10 and a beta of 1.94. Acrivon Therapeutics has a 52 week low of $3.19 and a 52 week high of $14.30.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its quarterly earnings results on Thursday, March 28th. The company reported ($0.86) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.14). On average, equities analysts anticipate that Acrivon Therapeutics will post -3.3 earnings per share for the current fiscal year.

Insider Activity at Acrivon Therapeutics

In other news, major shareholder Perceptive Advisors Llc purchased 2,353,000 shares of the company’s stock in a transaction that occurred on 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 purchase, the insider now owns 5,360,858 shares in the company, valued at $45,567,293. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Acrivon Therapeutics

An institutional investor recently raised its position in Acrivon Therapeutics stock. Exchange Traded Concepts LLC grew its stake in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,289 shares of the company’s stock after purchasing an additional 3,370 shares during the period. Exchange Traded Concepts LLC owned approximately 0.06% of Acrivon Therapeutics worth $65,000 at the end of the most recent reporting period. 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.