HC Wainwright Reiterates “Buy” Rating for Acrivon Therapeutics (NASDAQ:ACRV)

Acrivon Therapeutics (NASDAQ:ACRV)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research note issued to investors on Thursday, Benzinga reports. They currently have a $20.00 price target on the stock. HC Wainwright’s target price would indicate a potential upside of 136.41% from the stock’s previous close.

ACRV has been the topic of several other reports. LADENBURG THALM/SH SH cut their price target on shares of Acrivon Therapeutics from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. BMO Capital Markets reissued an “outperform” rating and set a $18.00 price target on shares of Acrivon Therapeutics in a research report on Monday, April 1st. Finally, JMP Securities reissued a “market outperform” rating and set a $14.00 price target on shares of Acrivon Therapeutics in a research report on Monday, April 1st. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $22.63.

Acrivon Therapeutics Trading Down 0.1 %

ACRV opened at $8.46 on Thursday. The stock 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 12 month low of $3.19 and a 12 month high of $14.30. The firm’s fifty day simple moving average is $6.65 and its 200 day simple moving average is $5.37.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its quarterly earnings results on Thursday, March 28th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.14). On average, equities research analysts predict that Acrivon Therapeutics will post -3.3 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Perceptive Advisors Llc purchased 2,353,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were acquired at an average price of $8.50 per share, for a total transaction of $20,000,500.00. Following the purchase, the insider now owns 5,360,858 shares in the company, valued at $45,567,293. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Acrivon Therapeutics stock. Exchange Traded Concepts LLC boosted its stake in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 13,289 shares of the company’s stock after buying an additional 3,370 shares during the period. Exchange Traded Concepts LLC owned approximately 0.06% of Acrivon Therapeutics worth $65,000 as of its most recent filing with the SEC. 71.62% of the stock is owned by institutional investors.

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.