Brokerages Set Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Target Price at $17.71

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) has earned a consensus rating of “Buy” from the ten analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $17.71.

Several research analysts recently weighed in on the company. Jones Trading reaffirmed a “hold” rating on shares of Acrivon Therapeutics in a research note on Friday, May 16th. Piper Sandler assumed coverage on Acrivon Therapeutics in a research report on Monday, May 5th. They issued an “overweight” rating and a $6.00 price target for the company. Oppenheimer decreased their price target on Acrivon Therapeutics from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Thursday, May 15th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Acrivon Therapeutics in a research report on Wednesday, March 26th. Finally, HC Wainwright decreased their price target on Acrivon Therapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, March 26th.

Insider Transactions at Acrivon Therapeutics

In related news, major shareholder Perceptive Advisors Llc sold 437,881 shares of the stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $1.41, for a total value of $617,412.21. Following the completion of the sale, the insider directly owned 3,403,025 shares of the company’s stock, valued at approximately $4,798,265.25. This represents a 11.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders sold 1,707,833 shares of company stock valued at $3,009,858. 11.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Acrivon Therapeutics

Several hedge funds have recently bought and sold shares of ACRV. American Century Companies Inc. lifted its stake in Acrivon Therapeutics by 14.2% in the 4th quarter. American Century Companies Inc. now owns 17,588 shares of the company’s stock worth $106,000 after acquiring an additional 2,186 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Acrivon Therapeutics by 7.6% during the 4th quarter. Renaissance Technologies LLC now owns 49,400 shares of the company’s stock worth $297,000 after purchasing an additional 3,500 shares in the last quarter. Barclays PLC raised its stake in shares of Acrivon Therapeutics by 14.4% during the 4th quarter. Barclays PLC now owns 38,091 shares of the company’s stock worth $228,000 after purchasing an additional 4,785 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Acrivon Therapeutics by 20.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 37,063 shares of the company’s stock worth $223,000 after purchasing an additional 6,239 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Acrivon Therapeutics by 11.3% during the 4th quarter. Northern Trust Corp now owns 117,323 shares of the company’s stock worth $706,000 after purchasing an additional 11,925 shares in the last quarter. 71.62% of the stock is owned by hedge funds and other institutional investors.

Acrivon Therapeutics Stock Up 1.6%

Shares of ACRV stock opened at $1.30 on Monday. The stock has a 50-day simple moving average of $1.22 and a 200 day simple moving average of $3.21. Acrivon Therapeutics has a fifty-two week low of $1.05 and a fifty-two week high of $10.16. The stock has a market capitalization of $40.76 million, a P/E ratio of -0.59 and a beta of 1.64.

Acrivon Therapeutics (NASDAQ:ACRV) last announced its earnings results on Tuesday, May 13th. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.06. On average, sell-side analysts anticipate that Acrivon Therapeutics will post -2.49 earnings per share for the current year.

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.