HC Wainwright Reaffirms Buy Rating for Acrivon Therapeutics (NASDAQ:ACRV)

HC Wainwright restated their buy rating on shares of Acrivon Therapeutics (NASDAQ:ACRV) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $20.00 price target on the stock.

ACRV has been the subject of several other reports. BMO Capital Markets reissued an outperform rating and set a $18.00 price target on shares of Acrivon Therapeutics in a report on Monday, April 1st. LADENBURG THALM/SH SH dropped their price target on Acrivon Therapeutics from $18.00 to $14.00 and set a buy rating for the company in a report on Friday, April 5th. Finally, JMP Securities reaffirmed a market outperform rating and issued a $14.00 price objective on shares of Acrivon Therapeutics in a report on Monday, April 1st. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $22.63.

Acrivon Therapeutics Trading Down 0.1 %

Shares of NASDAQ ACRV opened at $8.46 on Thursday. Acrivon Therapeutics has a 12 month low of $3.19 and a 12 month high of $14.30. The stock has a 50 day moving average of $6.65 and a 200-day moving average of $5.36. 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 issued its earnings results on Thursday, March 28th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.14). Analysts predict that Acrivon Therapeutics will post -3.3 EPS for the current fiscal year.

Insider Buying and Selling at Acrivon Therapeutics

In related news, major shareholder Perceptive Advisors Llc purchased 2,353,000 shares of Acrivon Therapeutics stock in a transaction on Thursday, April 11th. The shares were purchased at an average price of $8.50 per share, for a total transaction of $20,000,500.00. Following the transaction, the insider now owns 5,360,858 shares of the company’s stock, valued at approximately $45,567,293. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

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

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.