Acrivon Therapeutics (NASDAQ:ACRV) Earns Buy Rating from Piper Sandler Companies

Piper Sandler Companies restated their buy rating on shares of Acrivon Therapeutics (NASDAQ:ACRV) in a research note released on Friday, Stock Target Advisor reports. Piper Sandler Companies currently has a $30.00 price objective on the stock.

Other equities research analysts have also recently issued reports about the company. BMO Capital Markets reiterated an outperform rating and issued a $25.00 price target on shares of Acrivon Therapeutics in a research note on Wednesday, May 15th. HC Wainwright reiterated a buy rating and set a $22.00 target price on shares of Acrivon Therapeutics in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $23.14.

Acrivon Therapeutics Price Performance

Shares of NASDAQ ACRV opened at $8.08 on Friday. The firm has a market cap of $249.49 million, a price-to-earnings ratio of -2.81 and a beta of 0.81. The stock’s fifty day moving average price is $7.89 and its two-hundred day moving average price is $7.49. Acrivon Therapeutics has a one year low of $3.19 and a one year high of $12.09.

Acrivon Therapeutics (NASDAQ:ACRV) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.08. On average, equities analysts anticipate that Acrivon Therapeutics will post -2.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Acrivon Therapeutics

A number of institutional investors have recently modified their holdings of the business. American International Group Inc. grew its stake in shares of Acrivon Therapeutics by 39.2% during the first quarter. American International Group Inc. now owns 6,016 shares of the company’s stock worth $43,000 after buying an additional 1,695 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Acrivon Therapeutics in the 2nd quarter valued at $58,000. XTX Topco Ltd acquired a new stake in shares of Acrivon Therapeutics during the 2nd quarter valued at $61,000. Rhumbline Advisers grew its position in Acrivon Therapeutics by 48.9% during the 2nd quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock worth $94,000 after acquiring an additional 5,320 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Acrivon Therapeutics by 50.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company’s stock worth $212,000 after purchasing an additional 12,219 shares in the last quarter. Institutional investors and hedge funds own 71.62% of the company’s stock.

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.