Cantor Fitzgerald Initiates Coverage on Acrivon Therapeutics (NASDAQ:ACRV)

Stock analysts at Cantor Fitzgerald started coverage on shares of Acrivon Therapeutics (NASDAQ:ACRV) in a report issued on Friday,Benzinga reports. The firm set an “overweight” rating on the stock.

Several other research firms also recently issued reports on ACRV. HC Wainwright restated a “buy” rating and issued a $22.00 price objective on shares of Acrivon Therapeutics in a research note on Thursday, November 14th. BMO Capital Markets reduced their target price on shares of Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Thursday, November 14th. Finally, KeyCorp assumed coverage on Acrivon Therapeutics in a report on Friday. They set an “overweight” rating on the stock. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $23.67.

Acrivon Therapeutics Stock Performance

NASDAQ ACRV traded up $0.33 during trading on Friday, reaching $6.12. 5,632 shares of the company’s stock were exchanged, compared to its average volume of 35,487. Acrivon Therapeutics has a 1 year low of $3.19 and a 1 year high of $11.90. The stock has a market cap of $190.58 million, a P/E ratio of -2.27 and a beta of 0.77. The company has a 50 day moving average price of $6.35 and a two-hundred day moving average price of $7.35.

Institutional Investors Weigh In On Acrivon Therapeutics

Hedge funds have recently modified their holdings of the stock. Exome Asset Management LLC acquired a new position in shares of Acrivon Therapeutics in the 3rd quarter valued at $817,000. State Street Corp lifted its stake in shares of Acrivon Therapeutics by 26.4% in 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 in the last quarter. JPMorgan Chase & Co. increased 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 in the last quarter. Barclays PLC boosted its holdings in Acrivon Therapeutics by 51.2% in the third quarter. Barclays PLC now owns 33,306 shares of the company’s stock valued at $233,000 after purchasing an additional 11,273 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new stake in shares of Acrivon Therapeutics in the second quarter worth $58,000. 71.62% of the stock is owned by institutional investors and hedge funds.

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.