LADENBURG THALM/SH SH Lowers Acrivon Therapeutics (NASDAQ:ACRV) to Neutral

Acrivon Therapeutics (NASDAQ:ACRV) was downgraded by equities researchers at LADENBURG THALM/SH SH from a “buy” rating to a “neutral” rating in a research note issued on Monday, Marketbeat reports.

Several other research analysts also recently commented on ACRV. HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of Acrivon Therapeutics in a report on Thursday, April 25th. Piper Sandler boosted their target price on Acrivon Therapeutics from $26.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. BMO Capital Markets raised their price target on Acrivon Therapeutics from $18.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, JMP Securities lifted their price objective on Acrivon Therapeutics from $14.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.63.

Acrivon Therapeutics Price Performance

ACRV stock opened at $9.09 on Monday. Acrivon Therapeutics has a 1-year low of $3.19 and a 1-year high of $14.30. The business has a 50 day simple moving average of $6.77 and a two-hundred day simple moving average of $5.37. The company has a market capitalization of $205.80 million, a price-to-earnings ratio of -3.33 and a beta of 1.93.

Acrivon Therapeutics (NASDAQ:ACRV) last released its 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). Sell-side analysts anticipate that Acrivon Therapeutics will post -3.16 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Perceptive Advisors Llc acquired 2,353,000 shares of the stock in a transaction dated Thursday, April 11th. The stock was acquired at an average cost of $8.50 per share, with a total value of $20,000,500.00. Following the purchase, the insider now directly owns 5,360,858 shares of the company’s stock, valued at $45,567,293. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 7.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Acrivon Therapeutics stock. Exchange Traded Concepts LLC grew its holdings in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund 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 at the end of the most recent reporting period. 71.62% of the stock is 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.