Acrivon Therapeutics (NASDAQ:ACRV) PT Raised to $25.00

Acrivon Therapeutics (NASDAQ:ACRV) had its target price increased by BMO Capital Markets from $18.00 to $25.00 in a research note released on Friday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

A number of other brokerages have also weighed in on ACRV. LADENBURG THALM/SH SH decreased their target price on Acrivon Therapeutics from $18.00 to $14.00 and set a buy rating for the company in a research report on Friday, April 5th. HC Wainwright reiterated a buy rating and issued a $20.00 price target on shares of Acrivon Therapeutics in a report on Thursday. Piper Sandler lifted their price target on Acrivon Therapeutics from $26.00 to $30.00 and gave the company an overweight rating in a report on Thursday. Finally, JMP Securities lifted their price target on Acrivon Therapeutics from $14.00 to $17.00 and gave the company a market outperform rating in a report on Thursday. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of Buy and an average target price of $22.63.

Acrivon Therapeutics Stock Performance

Shares of ACRV stock opened at $8.46 on Friday. Acrivon Therapeutics has a 52-week low of $3.19 and a 52-week high of $14.30. The firm has a market capitalization of $191.53 million, a P/E ratio of -3.10 and a beta of 1.94. The stock has a 50 day moving average price of $6.65 and a 200 day moving average price of $5.35.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its quarterly earnings results on Thursday, March 28th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.14). As a group, sell-side analysts forecast that Acrivon Therapeutics will post -3.16 EPS for the current year.

Insider Buying and Selling at Acrivon Therapeutics

In other news, major shareholder Perceptive Advisors Llc purchased 2,353,000 shares of the company’s stock in a transaction 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 acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 7.30% of the company’s stock.

Institutional Trading of Acrivon Therapeutics

An institutional investor recently raised its position in Acrivon Therapeutics stock. Exchange Traded Concepts LLC grew its stake in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,289 shares of the company’s stock after buying an additional 3,370 shares during the quarter. Exchange Traded Concepts LLC owned 0.06% of Acrivon Therapeutics worth $65,000 as of its most recent SEC filing. 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.