Analysts Set Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Target Price at $17.71

Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) have earned a consensus rating of “Buy” from the ten brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $17.71.

Several research analysts have recently commented on ACRV shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Acrivon Therapeutics in a research report on Wednesday, March 26th. Jones Trading reiterated a “hold” rating on shares of Acrivon Therapeutics in a research report on Friday, May 16th. HC Wainwright reduced their price objective on Acrivon Therapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, March 26th. Piper Sandler began coverage on Acrivon Therapeutics in a research report on Monday, May 5th. They set an “overweight” rating and a $6.00 price objective for the company. Finally, Oppenheimer reduced their price objective on Acrivon Therapeutics from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Thursday, May 15th.

Insider Activity

In other news, major shareholder Perceptive Advisors Llc sold 1,054,669 shares of the firm’s stock in a transaction on Friday, April 25th. The stock was sold at an average price of $1.95, for a total transaction of $2,056,604.55. Following the transaction, the insider directly owned 4,306,189 shares of the company’s stock, valued at approximately $8,397,068.55. This trade represents a 19.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 1,707,833 shares of company stock valued at $3,009,858 over the last ninety days. Corporate insiders own 11.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Acorn Capital Advisors LLC acquired a new position in shares of Acrivon Therapeutics during the fourth quarter valued at approximately $2,440,000. Northern Trust Corp boosted its stake in Acrivon Therapeutics by 11.3% during the fourth quarter. Northern Trust Corp now owns 117,323 shares of the company’s stock valued at $706,000 after buying an additional 11,925 shares in the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 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 buying an additional 23,535 shares in the last quarter. Wealthedge Investment Advisors LLC boosted its stake in Acrivon Therapeutics by 420.1% during the first quarter. Wealthedge Investment Advisors LLC now owns 56,467 shares of the company’s stock valued at $115,000 after buying an additional 45,610 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake 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 buying an additional 3,500 shares in the last quarter. 71.62% of the stock is currently owned by institutional investors.

Acrivon Therapeutics Trading Up 1.6%

Shares of ACRV opened at $1.30 on Monday. The firm has a market cap of $40.76 million, a price-to-earnings ratio of -0.59 and a beta of 1.64. The stock has a 50 day moving average of $1.22 and a 200-day moving average of $3.21. Acrivon Therapeutics has a 52 week low of $1.05 and a 52 week high of $10.16.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its earnings results on Tuesday, May 13th. The company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.06. On average, sell-side analysts predict 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.