Acrivon Therapeutics (NASDAQ:ACRV) Price Target Lowered to $27.00 at BMO Capital Markets

Acrivon Therapeutics (NASDAQ:ACRV) had its price objective cut by BMO Capital Markets from $28.00 to $27.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also issued reports on ACRV. JMP Securities reissued a “market outperform” rating and issued a $17.00 price target on shares of Acrivon Therapeutics in a research note on Monday, September 16th. Piper Sandler Companies reaffirmed a “buy” rating and set a $30.00 target price on shares of Acrivon Therapeutics in a report on Friday, September 6th. HC Wainwright reaffirmed a “buy” rating and set a $22.00 target price on shares of Acrivon Therapeutics in a report on Thursday. Finally, LADENBURG THALM/SH SH raised Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Monday, September 16th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Acrivon Therapeutics has a consensus rating of “Buy” and a consensus target price of $23.67.

Acrivon Therapeutics Stock Down 8.8 %

Acrivon Therapeutics stock traded down $0.70 during mid-day trading on Thursday, hitting $7.22. 34,850 shares of the company’s stock were exchanged, compared to its average volume of 283,039. The company’s 50 day simple moving average is $7.80 and its 200-day simple moving average is $7.81. The firm has a market capitalization of $223.60 million, a P/E ratio of -2.74 and a beta of 0.66. Acrivon Therapeutics has a fifty-two week low of $3.19 and a fifty-two week high of $11.90.

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

Institutional Trading of Acrivon Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Perceptive Advisors LLC lifted its stake in shares of Acrivon Therapeutics by 78.2% in the 2nd quarter. Perceptive Advisors LLC now owns 5,360,858 shares of the company’s stock valued at $31,093,000 after purchasing an additional 2,353,000 shares during the last quarter. Sands Capital Ventures LLC increased its stake in shares of Acrivon Therapeutics by 28.4% during the second quarter. Sands Capital Ventures LLC now owns 2,122,605 shares of the company’s stock worth $12,311,000 after buying an additional 470,000 shares during the period. Marshall Wace LLP increased its holdings in shares of Acrivon Therapeutics by 58.8% in the 2nd quarter. Marshall Wace LLP now owns 948,866 shares of the company’s stock valued at $5,503,000 after acquiring an additional 351,397 shares during the last quarter. Baker BROS. Advisors LP purchased a new stake in Acrivon Therapeutics in the first quarter valued at $378,000. Finally, Vanguard Group Inc. increased its holdings in shares of Acrivon Therapeutics by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 507,185 shares of the company’s stock valued at $3,626,000 after acquiring an additional 31,208 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.