HC Wainwright Reiterates “Buy” Rating for Acrivon Therapeutics (NASDAQ:ACRV)

Acrivon Therapeutics (NASDAQ:ACRV)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research note issued to investors on Thursday, Benzinga reports. They presently have a $20.00 price objective on the stock. HC Wainwright’s price objective would suggest a potential upside of 136.41% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. JMP Securities reissued a “market outperform” rating and issued a $14.00 price target on shares of Acrivon Therapeutics in a research note on Monday, April 1st. BMO Capital Markets reissued an “outperform” rating and issued a $18.00 price target on shares of Acrivon Therapeutics in a research note on Monday, April 1st. Finally, LADENBURG THALM/SH SH cut their price target on shares of Acrivon Therapeutics from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $22.63.

Acrivon Therapeutics Price Performance

Shares of NASDAQ ACRV opened at $8.46 on Thursday. The stock has a market capitalization of $191.53 million, a P/E ratio of -3.10 and a beta of 1.94. The company has a 50-day moving average price of $6.65 and a 200-day moving average price of $5.37. Acrivon Therapeutics has a 1 year low of $3.19 and a 1 year high of $14.30.

Acrivon Therapeutics (NASDAQ:ACRV) last released its quarterly earnings results on Thursday, March 28th. The company reported ($0.86) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.14). As a group, equities research analysts anticipate that Acrivon Therapeutics will post -3.3 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Acrivon Therapeutics stock. Exchange Traded Concepts LLC lifted its position in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,289 shares of the company’s stock after purchasing an additional 3,370 shares during the period. Exchange Traded Concepts LLC owned about 0.06% of Acrivon Therapeutics worth $65,000 as of its most recent SEC filing. Institutional investors and hedge funds own 71.62% of the company’s stock.

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.