Brokerages Set Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Price Target at $11.67

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) has been given an average rating of “Moderate Buy” by the six brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $11.6667.

Several equities research analysts recently commented on the company. Wall Street Zen cut Acrivon Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, March 1st. Piper Sandler raised their price objective on shares of Acrivon Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a research report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Acrivon Therapeutics in a research note on Monday, December 29th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Acrivon Therapeutics in a research note on Monday, March 2nd.

Acrivon Therapeutics Stock Up 6.6%

Shares of ACRV opened at $1.78 on Wednesday. The firm has a market capitalization of $68.96 million, a PE ratio of -0.88 and a beta of 1.72. The firm has a 50-day moving average price of $1.58 and a 200 day moving average price of $1.93. Acrivon Therapeutics has a 52-week low of $1.05 and a 52-week high of $3.56.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its quarterly earnings results on Thursday, March 19th. The company reported ($0.49) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.49). On average, equities analysts expect that Acrivon Therapeutics will post -2.49 EPS for the current year.

Institutional Investors Weigh In On Acrivon Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of ACRV. Schonfeld Strategic Advisors LLC bought a new stake in shares of Acrivon Therapeutics during the 4th quarter worth $40,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Acrivon Therapeutics during the fourth quarter worth $44,000. Focus Partners Wealth purchased a new stake in shares of Acrivon Therapeutics during the third quarter valued at $36,000. Quadrature Capital Ltd acquired a new position in shares of Acrivon Therapeutics in the 4th quarter valued at $50,000. Finally, Invesco Ltd. acquired a new position in shares of Acrivon Therapeutics in the 1st quarter valued at $72,000. Institutional investors and hedge funds own 71.62% of the company’s stock.

Acrivon Therapeutics Company Profile

Acrivon Therapeutics (NASDAQ:ACRV) is a clinical-stage biotechnology company focused on the discovery and development of stapled peptide therapeutics for the treatment of RAS-driven cancers. Its proprietary platform is designed to enhance the stability, cell permeability and target specificity of peptide molecules, enabling the disruption of protein–protein interactions that are traditionally challenging to inhibit with small-molecule drugs or biologics.

The company’s lead development candidate is a hydrocarbon-stapled peptide selectively targeting the KRAS G12C mutation, currently in early clinical trials.