Acrivon Therapeutics (NASDAQ:ACRV) Given New $17.00 Price Target at JMP Securities

Acrivon Therapeutics (NASDAQ:ACRV) had its price objective lifted by equities research analysts at JMP Securities from $14.00 to $17.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price target indicates a potential upside of 100.95% from the company’s current price.

Several other equities research analysts have also commented on ACRV. LADENBURG THALM/SH SH cut their price objective on Acrivon Therapeutics from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Piper Sandler boosted their price objective on Acrivon Therapeutics from $26.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday. HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Acrivon Therapeutics in a research note on Thursday. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $18.00 price objective on shares of Acrivon Therapeutics in a research note on Monday, April 1st. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $22.63.

Acrivon Therapeutics Stock Performance

NASDAQ ACRV opened at $8.46 on Thursday. The stock has a 50-day simple moving average of $6.65 and a two-hundred day simple moving average of $5.37. The firm has a market capitalization of $191.53 million, a P/E ratio of -3.10 and a beta of 1.94. Acrivon Therapeutics has a fifty-two week low of $3.19 and a fifty-two week high of $14.30.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its quarterly earnings data on Thursday, March 28th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.14). As a group, analysts forecast that Acrivon Therapeutics will post -3.3 earnings per share for the current year.

Insider Transactions at Acrivon Therapeutics

In related news, major shareholder Perceptive Advisors Llc bought 2,353,000 shares of the stock in a transaction dated Thursday, April 11th. The shares were acquired at an average cost of $8.50 per share, for a total transaction of $20,000,500.00. Following the acquisition, the insider now directly owns 5,360,858 shares in the company, valued at approximately $45,567,293. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Acrivon Therapeutics stock. Exchange Traded Concepts LLC boosted its holdings in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,289 shares of the company’s stock after acquiring an additional 3,370 shares during the period. Exchange Traded Concepts LLC owned 0.06% of Acrivon Therapeutics worth $65,000 at the end of the most recent reporting period. 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.