Acrivon Therapeutics (NASDAQ:ACRV) Rating Reiterated by JMP Securities

Acrivon Therapeutics (NASDAQ:ACRV)‘s stock had its “market outperform” rating restated by analysts at JMP Securities in a research note issued on Monday, Benzinga reports. They currently have a $17.00 price objective on the stock. JMP Securities’ price target points to a potential upside of 92.09% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets reiterated an “outperform” rating and set a $28.00 price objective (up from $25.00) on shares of Acrivon Therapeutics in a research note on Monday. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price target on shares of Acrivon Therapeutics in a research report on Monday. Piper Sandler Companies reiterated a “buy” rating and set a $30.00 price target on shares of Acrivon Therapeutics in a research note on Friday, September 6th. Finally, LADENBURG THALM/SH SH raised Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a report on Monday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $23.86.

Acrivon Therapeutics Stock Performance

NASDAQ:ACRV traded down $0.06 during mid-day trading on Monday, hitting $8.85. 126,687 shares of the company’s stock traded hands, compared to its average volume of 330,123. The company has a fifty day moving average of $8.15 and a 200 day moving average of $7.65. Acrivon Therapeutics has a twelve month low of $3.19 and a twelve month high of $11.90. The company has a market capitalization of $273.26 million, a P/E ratio of -3.33 and a beta of 0.81.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.60) by $0.08. On average, research analysts expect that Acrivon Therapeutics will post -2.4 earnings per share for the current fiscal year.

Institutional Trading of Acrivon Therapeutics

A number of hedge funds have recently modified their holdings of ACRV. Vanguard Group Inc. increased its holdings in Acrivon Therapeutics by 6.6% in the first quarter. Vanguard Group Inc. now owns 507,185 shares of the company’s stock valued at $3,626,000 after buying an additional 31,208 shares in the last quarter. American International Group Inc. increased its stake in shares of Acrivon Therapeutics by 39.2% in the 1st quarter. American International Group Inc. now owns 6,016 shares of the company’s stock valued at $43,000 after purchasing an additional 1,695 shares in the last quarter. Baker BROS. Advisors LP acquired a new position in Acrivon Therapeutics in the 1st quarter worth about $378,000. Bank of New York Mellon Corp boosted its position in Acrivon Therapeutics by 50.1% during the second 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. Finally, Rhumbline Advisers grew its holdings in Acrivon Therapeutics by 48.9% in the second quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock valued at $94,000 after purchasing an additional 5,320 shares during the period. Hedge funds and other institutional investors 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.