Cantor Fitzgerald Reiterates “Overweight” Rating for Acrivon Therapeutics (NASDAQ:ACRV)

Acrivon Therapeutics (NASDAQ:ACRV)‘s stock had its “overweight” rating reissued by stock analysts at Cantor Fitzgerald in a report issued on Wednesday,Benzinga reports.

A number of other brokerages have also weighed in on ACRV. HC Wainwright cut their price target on shares of Acrivon Therapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday. KeyCorp began coverage on shares of Acrivon Therapeutics in a research report on Friday, January 31st. They issued an “overweight” rating on the stock. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $23.17.

Acrivon Therapeutics Stock Down 3.4 %

Shares of ACRV stock opened at $2.52 on Wednesday. Acrivon Therapeutics has a 12-month low of $2.44 and a 12-month high of $11.90. The firm has a fifty day moving average of $5.42 and a 200-day moving average of $6.57. The firm has a market capitalization of $78.46 million, a price-to-earnings ratio of -0.93 and a beta of 0.85.

Acrivon Therapeutics (NASDAQ:ACRV) last released its quarterly earnings results on Thursday, March 27th. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.06. Research analysts expect that Acrivon Therapeutics will post -2.49 earnings per share for the current year.

Institutional Investors Weigh In On Acrivon Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. bought a new position in shares of Acrivon Therapeutics in the 4th quarter valued at about $40,000. Wealthedge Investment Advisors LLC acquired a new position in shares of Acrivon Therapeutics during the 4th quarter worth approximately $65,000. Corton Capital Inc. acquired a new stake in shares of Acrivon Therapeutics in the 4th quarter valued at approximately $73,000. American Century Companies Inc. grew its stake in shares of Acrivon Therapeutics by 14.2% in the fourth quarter. American Century Companies Inc. now owns 17,588 shares of the company’s stock valued at $106,000 after buying an additional 2,186 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Acrivon Therapeutics by 20.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 37,063 shares of the company’s stock worth $223,000 after buying an additional 6,239 shares during the last quarter. 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.