Acrivon Therapeutics (NASDAQ:ACRV) Given New $8.00 Price Target at Oppenheimer

Acrivon Therapeutics (NASDAQ:ACRV) had its target price trimmed by Oppenheimer from $9.00 to $8.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Other research analysts have also issued research reports about the stock. Jones Trading reaffirmed a “hold” rating on shares of Acrivon Therapeutics in a research note on Friday, May 16th. Piper Sandler assumed coverage on shares of Acrivon Therapeutics in a report on Monday, May 5th. They issued an “overweight” rating and a $6.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $17.57.

Acrivon Therapeutics Stock Performance

Shares of ACRV stock opened at $1.39 on Thursday. The stock has a market cap of $43.58 million, a price-to-earnings ratio of -0.62 and a beta of 1.65. The firm has a fifty day moving average of $1.29 and a 200-day moving average of $2.56. 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 quarterly earnings data on Wednesday, August 13th. The company reported ($0.55) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.02. On average, sell-side analysts predict that Acrivon Therapeutics will post -2.49 earnings per share for the current year.

Hedge Funds Weigh In On Acrivon Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acorn Capital Advisors LLC bought a new stake in shares of Acrivon Therapeutics in the fourth quarter valued at about $2,440,000. Jane Street Group LLC acquired a new position in Acrivon Therapeutics during the second quarter worth about $371,000. Northern Trust Corp grew its holdings in shares of Acrivon Therapeutics by 11.3% during the fourth quarter. Northern Trust Corp now owns 117,323 shares of the company’s stock worth $706,000 after purchasing an additional 11,925 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Acrivon Therapeutics during the second quarter worth about $126,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Acrivon Therapeutics by 29.7% in 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 last quarter. 71.62% of the stock is owned by institutional investors.

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.