Acrivon Therapeutics (NASDAQ:ACRV) PT Raised to $25.00

Acrivon Therapeutics (NASDAQ:ACRV) had its target price increased by BMO Capital Markets from $18.00 to $25.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 195.51% from the stock’s current price.

Several other analysts have also recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of Acrivon Therapeutics in a report on Thursday. LADENBURG THALM/SH SH reduced their target price on Acrivon Therapeutics from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Piper Sandler upped their target price on Acrivon Therapeutics from $26.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday. Finally, JMP Securities upped their target price on Acrivon Therapeutics from $14.00 to $17.00 and gave the company a “market outperform” rating in a report on Thursday. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $22.63.

Acrivon Therapeutics Price Performance

Acrivon Therapeutics stock opened at $8.46 on Friday. The business has a 50 day moving average of $6.65 and a 200-day moving average of $5.36. Acrivon Therapeutics has a 1 year low of $3.19 and a 1 year high of $14.30. The company has a market capitalization of $191.53 million, a P/E ratio of -3.10 and a beta of 1.94.

Acrivon Therapeutics (NASDAQ:ACRV) last released its quarterly earnings data on Thursday, March 28th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.14). Equities analysts anticipate that Acrivon Therapeutics will post -3.3 EPS for the current year.

Insiders Place Their Bets

In other Acrivon Therapeutics news, major shareholder Perceptive Advisors Llc purchased 2,353,000 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were purchased at an average cost of $8.50 per share, for a total transaction of $20,000,500.00. Following the acquisition, the insider now owns 5,360,858 shares of the company’s stock, valued at $45,567,293. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Acrivon Therapeutics

A hedge fund recently raised its stake in Acrivon Therapeutics stock. Exchange Traded Concepts LLC grew its holdings in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,289 shares of the company’s stock after buying an additional 3,370 shares during the period. Exchange Traded Concepts LLC owned approximately 0.06% of Acrivon Therapeutics worth $65,000 as of its most recent filing with the SEC. 71.62% of the stock is currently owned by institutional investors and hedge funds.

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.