Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Receives Average Recommendation of “Buy” from Analysts

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) has been assigned a consensus recommendation of “Buy” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $20.14.

Several research analysts have recently commented on the company. BMO Capital Markets reiterated an “outperform” rating and set a $18.00 target price on shares of Acrivon Therapeutics in a research note on Monday, April 1st. LADENBURG THALM/SH SH reduced their target price 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. JMP Securities reiterated a “market outperform” rating and set a $14.00 target price on shares of Acrivon Therapeutics in a research note on Monday, April 1st. Finally, HC Wainwright reiterated a “buy” rating and set a $20.00 target price on shares of Acrivon Therapeutics in a research note on Thursday, March 28th.

Acrivon Therapeutics Stock Down 3.3 %

NASDAQ:ACRV opened at $9.50 on Friday. The firm has a market capitalization of $215.08 million, a price-to-earnings ratio of -3.48 and a beta of 1.94. Acrivon Therapeutics has a twelve month low of $3.19 and a twelve month high of $14.30. The stock’s 50 day moving average price is $6.47 and its two-hundred day moving average price is $5.33.

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

Insider Activity at Acrivon Therapeutics

In other news, major shareholder Perceptive Advisors Llc purchased 2,353,000 shares of Acrivon Therapeutics stock in a transaction that occurred on Thursday, April 11th. The stock was acquired at an average cost of $8.50 per share, for a total transaction of $20,000,500.00. Following the purchase, the insider now directly owns 5,360,858 shares of the company’s stock, valued at approximately $45,567,293. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Acrivon Therapeutics

A hedge fund recently raised its stake in Acrivon Therapeutics stock. Exchange Traded Concepts LLC grew its stake in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 13,289 shares of the company’s stock after acquiring an additional 3,370 shares during the quarter. Exchange Traded Concepts LLC owned about 0.06% of Acrivon Therapeutics worth $65,000 as of its most recent SEC filing. 71.62% of the stock is currently owned by hedge funds and other institutional investors.

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.