Brokerages Set Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Target Price at $21.80

Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) have earned a consensus recommendation of “Buy” from the seven analysts that are covering the company, Marketbeat reports. Seven research analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have issued a report on the stock in the last year is $21.80.

ACRV has been the topic of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Acrivon Therapeutics in a report on Wednesday, March 26th. KeyCorp initiated coverage on Acrivon Therapeutics in a research note on Friday, January 31st. They set an “overweight” rating for the company. Finally, HC Wainwright lowered their price target on Acrivon Therapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, March 26th.

Acrivon Therapeutics Price Performance

Shares of ACRV opened at $1.41 on Wednesday. The business’s 50-day moving average is $3.20 and its 200-day moving average is $5.45. The company has a market capitalization of $44.21 million, a price-to-earnings ratio of -0.52 and a beta of 1.77. Acrivon Therapeutics has a fifty-two week low of $1.30 and a fifty-two week high of $10.29.

Acrivon Therapeutics (NASDAQ:ACRV) last released its quarterly earnings data on Thursday, March 27th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.09. Equities research analysts expect that Acrivon Therapeutics will post -2.49 earnings per share for the current fiscal year.

Insider Transactions at Acrivon Therapeutics

In related news, major shareholder Perceptive Advisors Llc sold 215,283 shares of the company’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of $1.56, for a total transaction of $335,841.48. Following the completion of the sale, the insider now directly owns 4,090,906 shares of the company’s stock, valued at approximately $6,381,813.36. This represents a 5.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders sold 1,707,833 shares of company stock worth $3,009,858. 8.50% of the stock is owned by corporate insiders.

Institutional Trading of Acrivon Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Acorn Capital Advisors LLC bought a new stake in shares of Acrivon Therapeutics in the fourth quarter valued at approximately $2,440,000. Exome Asset Management LLC bought a new position in Acrivon Therapeutics during the third quarter worth $817,000. State Street Corp raised its stake in Acrivon Therapeutics by 26.4% during the 3rd quarter. State Street Corp now owns 225,896 shares of the company’s stock valued at $1,581,000 after purchasing an additional 47,233 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Acrivon Therapeutics by 548.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,991 shares of the company’s stock valued at $238,000 after purchasing an additional 28,748 shares during the period. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Acrivon Therapeutics by 29.7% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 102,784 shares of the company’s stock worth $619,000 after purchasing an additional 23,535 shares during the period. Institutional investors 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.