Acrivon Therapeutics (NASDAQ:ACRV) PT Raised to $25.00

Acrivon Therapeutics (NASDAQ:ACRV) had its target price boosted by equities researchers at BMO Capital Markets from $18.00 to $25.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price target suggests a potential upside of 195.51% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Piper Sandler lifted their price target on Acrivon Therapeutics from $26.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of Acrivon Therapeutics in a research note on Thursday. LADENBURG THALM/SH SH decreased their price target 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. Finally, JMP Securities lifted their price target on Acrivon Therapeutics from $14.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Thursday. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Acrivon Therapeutics has a consensus rating of “Buy” and an average target price of $22.63.

Acrivon Therapeutics Trading Down 0.1 %

Shares of NASDAQ ACRV opened at $8.46 on Friday. 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 1-year low of $3.19 and a 1-year high of $14.30. The stock’s 50-day moving average is $6.65 and its 200 day moving average is $5.36.

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

Insider Activity

In other Acrivon Therapeutics news, major shareholder Perceptive Advisors Llc bought 2,353,000 shares of Acrivon Therapeutics stock in a transaction dated Thursday, April 11th. The shares were purchased 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 of the company’s stock, valued at $45,567,293. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Acrivon Therapeutics

A hedge fund recently raised its stake in Acrivon Therapeutics stock. Exchange Traded Concepts LLC lifted its position in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,289 shares of the company’s stock after purchasing an additional 3,370 shares during the quarter. Exchange Traded Concepts LLC owned about 0.06% of Acrivon Therapeutics worth $65,000 as of its most recent filing with the Securities & Exchange Commission. 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.