Acrivon Therapeutics (NASDAQ:ACRV) Given Buy Rating at HC Wainwright

Acrivon Therapeutics (NASDAQ:ACRV)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They currently have a $22.00 price target on the stock. HC Wainwright’s target price would suggest a potential upside of 177.43% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. LADENBURG THALM/SH SH raised shares of Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Monday, September 16th. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 target price on shares of Acrivon Therapeutics in a report on Monday, September 16th. BMO Capital Markets reiterated an “outperform” rating and issued a $28.00 price target (up from $25.00) on shares of Acrivon Therapeutics in a report on Monday, September 16th. Finally, Piper Sandler Companies restated a “buy” rating and set a $30.00 price objective on shares of Acrivon Therapeutics in a research note on Friday, September 6th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $23.83.

Acrivon Therapeutics Stock Performance

NASDAQ:ACRV opened at $7.93 on Thursday. Acrivon Therapeutics has a one year low of $3.19 and a one year high of $11.90. The business’s 50-day simple moving average is $7.81 and its 200 day simple moving average is $7.81. The stock has a market cap of $245.59 million, a price-to-earnings ratio of -2.86 and a beta of 0.66.

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

Institutional Investors Weigh In On Acrivon Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Perceptive Advisors LLC grew its position in shares of Acrivon Therapeutics by 78.2% during the second quarter. Perceptive Advisors LLC now owns 5,360,858 shares of the company’s stock worth $31,093,000 after acquiring an additional 2,353,000 shares during the last quarter. Marshall Wace LLP grew its position in Acrivon Therapeutics by 58.8% in the 2nd quarter. Marshall Wace LLP now owns 948,866 shares of the company’s stock worth $5,503,000 after purchasing an additional 351,397 shares during the last quarter. Sands Capital Ventures LLC increased its stake in shares of Acrivon Therapeutics by 28.4% in the second quarter. Sands Capital Ventures LLC now owns 2,122,605 shares of the company’s stock valued at $12,311,000 after purchasing an additional 470,000 shares during the period. XTX Topco Ltd bought a new stake in shares of Acrivon Therapeutics during the second quarter valued at approximately $61,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Acrivon Therapeutics during the second quarter worth approximately $58,000. 71.62% of the stock is owned by institutional investors and hedge funds.

Acrivon Therapeutics Company Profile

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.