Marshall Wace LLP Raises Stock Holdings in Acrivon Therapeutics, Inc. (NASDAQ:ACRV)

Marshall Wace LLP lifted its holdings in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 58.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 948,866 shares of the company’s stock after purchasing an additional 351,397 shares during the quarter. Marshall Wace LLP owned 3.07% of Acrivon Therapeutics worth $5,503,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ACRV. Vanguard Group Inc. boosted its stake in Acrivon Therapeutics by 6.6% in the first quarter. Vanguard Group Inc. now owns 507,185 shares of the company’s stock worth $3,626,000 after buying an additional 31,208 shares in the last quarter. American International Group Inc. boosted its stake in Acrivon Therapeutics by 39.2% in the first quarter. American International Group Inc. now owns 6,016 shares of the company’s stock worth $43,000 after buying an additional 1,695 shares in the last quarter. Baker BROS. Advisors LP purchased a new stake in Acrivon Therapeutics in the first quarter worth approximately $378,000. Bank of New York Mellon Corp boosted its stake in Acrivon Therapeutics by 50.1% in the second quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company’s stock worth $212,000 after buying an additional 12,219 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Acrivon Therapeutics by 48.9% in the second quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock worth $94,000 after buying an additional 5,320 shares in the last quarter. Hedge funds and other institutional investors own 71.62% of the company’s stock.

Acrivon Therapeutics Stock Down 0.3 %

Shares of Acrivon Therapeutics stock opened at $6.98 on Wednesday. The company has a market cap of $215.52 million, a PE ratio of -2.42 and a beta of 0.81. The business has a 50 day moving average of $8.12 and a 200 day moving average of $7.83. Acrivon Therapeutics, Inc. has a 52 week low of $3.19 and a 52 week high of $11.90.

Acrivon Therapeutics (NASDAQ:ACRV) last announced its earnings results on Tuesday, August 13th. The company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.08. On average, research analysts anticipate that Acrivon Therapeutics, Inc. will post -2.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on ACRV shares. LADENBURG THALM/SH SH raised Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Monday, September 16th. JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 target price on shares of Acrivon Therapeutics in a research note on Monday, September 16th. HC Wainwright reissued a “buy” rating and set a $22.00 price objective on shares of Acrivon Therapeutics in a research note on Monday, September 16th. BMO Capital Markets reissued an “outperform” rating and set a $28.00 price objective (up previously from $25.00) on shares of Acrivon Therapeutics in a research note on Monday, September 16th. Finally, Piper Sandler Companies reissued a “buy” rating and set a $30.00 price objective on shares of Acrivon Therapeutics in a research note on Friday, September 6th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Acrivon Therapeutics currently has an average rating of “Buy” and a consensus target price of $23.86.

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.