Brokerages Set Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Price Target at $22.00

Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $22.00.

Several brokerages have recently issued reports on ACRV. HC Wainwright reissued a “buy” rating and issued a $22.00 price objective on shares of Acrivon Therapeutics in a report on Tuesday, August 13th. BMO Capital Markets reissued an “outperform” rating and issued a $25.00 price target on shares of Acrivon Therapeutics in a report on Wednesday, May 15th.

Hedge Funds Weigh In On Acrivon Therapeutics

A number of large investors have recently bought and sold shares of the business. Perceptive Advisors LLC grew its holdings in Acrivon Therapeutics by 78.2% in the second 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 period. Sands Capital Ventures LLC grew its stake in Acrivon Therapeutics by 28.4% in the 2nd quarter. Sands Capital Ventures LLC now owns 2,122,605 shares of the company’s stock valued at $12,311,000 after acquiring an additional 470,000 shares during the period. Marshall Wace LLP increased its holdings 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 acquiring an additional 351,397 shares in the last quarter. Baker BROS. Advisors LP acquired a new position in Acrivon Therapeutics during the first quarter worth $378,000. Finally, Vanguard Group Inc. lifted its holdings in Acrivon Therapeutics by 6.6% during the first quarter. Vanguard Group Inc. now owns 507,185 shares of the company’s stock valued at $3,626,000 after purchasing an additional 31,208 shares in the last quarter. Institutional investors and hedge funds own 71.62% of the company’s stock.

Acrivon Therapeutics Trading Up 7.7 %

ACRV opened at $9.98 on Friday. Acrivon Therapeutics has a 12-month low of $3.19 and a 12-month high of $12.52. The firm has a 50 day moving average of $7.58 and a two-hundred day moving average of $7.23. The firm has a market capitalization of $308.15 million, a PE ratio of -3.47 and a beta of 0.79.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its earnings results on Tuesday, August 13th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.08. As a group, analysts predict that Acrivon Therapeutics will post -2.47 EPS for the current fiscal year.

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.