Oppenheimer Issues Pessimistic Forecast for Acrivon Therapeutics (NASDAQ:ACRV) Stock Price

Acrivon Therapeutics (NASDAQ:ACRV) had its target price reduced by equities researchers at Oppenheimer from $10.00 to $9.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock.

Other equities analysts have also recently issued reports about the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Acrivon Therapeutics in a research report on Wednesday, March 26th. KeyCorp initiated coverage on Acrivon Therapeutics in a research report on Friday, January 31st. They set an “overweight” rating on the stock. Piper Sandler began coverage on shares of Acrivon Therapeutics in a research report on Monday, May 5th. They issued an “overweight” rating and a $6.00 price objective for the company. Finally, HC Wainwright reduced their price objective on shares of Acrivon Therapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $17.71.

Acrivon Therapeutics Stock Up 4.5%

ACRV stock opened at $1.15 on Thursday. The firm has a market cap of $36.06 million, a PE ratio of -0.43 and a beta of 1.88. The business has a 50 day moving average of $2.36 and a 200-day moving average of $4.98. Acrivon Therapeutics has a 12-month low of $1.09 and a 12-month high of $10.16.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.06. On average, research analysts expect that Acrivon Therapeutics will post -2.49 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Perceptive Advisors Llc sold 215,283 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $1.56, for a total value of $335,841.48. Following the transaction, the insider now owns 4,090,906 shares of the company’s stock, valued at $6,381,813.36. This represents a 5.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 1,707,833 shares of company stock worth $3,009,858. Insiders own 11.90% of the company’s stock.

Institutional Investors Weigh In On Acrivon Therapeutics

Several hedge funds have recently added to or reduced their stakes in ACRV. American Century Companies Inc. raised its holdings in shares of Acrivon Therapeutics by 14.2% during the 4th quarter. American Century Companies Inc. now owns 17,588 shares of the company’s stock valued at $106,000 after buying an additional 2,186 shares in the last quarter. Renaissance Technologies LLC grew its position in Acrivon Therapeutics by 7.6% during the fourth quarter. Renaissance Technologies LLC now owns 49,400 shares of the company’s stock valued at $297,000 after acquiring an additional 3,500 shares during the last quarter. Barclays PLC grew its position in Acrivon Therapeutics by 14.4% during the fourth quarter. Barclays PLC now owns 38,091 shares of the company’s stock valued at $228,000 after acquiring an additional 4,785 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Acrivon Therapeutics by 20.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 37,063 shares of the company’s stock worth $223,000 after acquiring an additional 6,239 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. bought a new stake in shares of Acrivon Therapeutics in the 4th quarter worth approximately $40,000. 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.