Analysts Set Acrivon Therapeutics, Inc. (NASDAQ:ACRV) PT at $21.80

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) has earned an average rating of “Buy” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy rating. The average 12 month price target among analysts that have covered the stock in the last year is $21.80.

ACRV has been the subject of a number of recent analyst reports. KeyCorp began coverage on shares of Acrivon Therapeutics in a research report on Friday, January 31st. They issued an “overweight” rating for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Acrivon Therapeutics in a report on Wednesday, March 26th. Finally, HC Wainwright dropped their target price on Acrivon Therapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, March 26th.

Insider Buying and Selling

In related news, major shareholder Perceptive Advisors Llc sold 437,881 shares of Acrivon Therapeutics stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $1.41, for a total value of $617,412.21. Following the transaction, the insider now directly owns 3,403,025 shares in the company, valued at $4,798,265.25. The trade was a 11.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 1,707,833 shares of company stock worth $3,009,858 in the last ninety days. 8.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Acrivon Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wealthedge Investment Advisors LLC purchased a new stake in Acrivon Therapeutics during the fourth quarter valued at about $65,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Acrivon Therapeutics by 29.7% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 102,784 shares of the company’s stock valued at $619,000 after acquiring an additional 23,535 shares during the period. Corton Capital Inc. purchased a new stake in shares of Acrivon Therapeutics in the 4th quarter valued at approximately $73,000. Acorn Capital Advisors LLC acquired a new position in Acrivon Therapeutics in the 4th quarter worth approximately $2,440,000. Finally, Northern Trust Corp grew its position in Acrivon Therapeutics by 11.3% during the 4th quarter. Northern Trust Corp now owns 117,323 shares of the company’s stock worth $706,000 after purchasing an additional 11,925 shares in the last quarter. Institutional investors and hedge funds own 71.62% of the company’s stock.

Acrivon Therapeutics Trading Up 6.0 %

Shares of NASDAQ ACRV opened at $1.41 on Wednesday. Acrivon Therapeutics has a 12-month low of $1.30 and a 12-month high of $10.29. The company has a market cap of $44.21 million, a PE ratio of -0.52 and a beta of 1.77. The stock has a 50 day simple moving average of $3.20 and a 200-day simple moving average of $5.45.

Acrivon Therapeutics (NASDAQ:ACRV) last announced its quarterly earnings results on Thursday, March 27th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.09. Sell-side analysts forecast that Acrivon Therapeutics will post -2.49 earnings per share for the current fiscal year.

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.