Acrivon Therapeutics (NASDAQ:ACRV) Given New $27.00 Price Target at BMO Capital Markets

Acrivon Therapeutics (NASDAQ:ACRV) had its price target trimmed by BMO Capital Markets from $28.00 to $27.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research firms also recently weighed in on ACRV. Piper Sandler Companies reissued a “buy” rating and set a $30.00 target price on shares of Acrivon Therapeutics in a research report on Friday, September 6th. LADENBURG THALM/SH SH upgraded Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Monday, September 16th. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 price target on shares of Acrivon Therapeutics in a research report on Monday, September 16th. Finally, HC Wainwright reissued a “buy” rating and issued a $22.00 price objective on shares of Acrivon Therapeutics in a report on Thursday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Acrivon Therapeutics presently has an average rating of “Buy” and an average target price of $23.67.

Acrivon Therapeutics Stock Performance

Shares of NASDAQ ACRV opened at $6.96 on Thursday. Acrivon Therapeutics has a fifty-two week low of $3.19 and a fifty-two week high of $11.90. The company has a market cap of $216.73 million, a PE ratio of -2.58 and a beta of 0.66. The business has a 50-day simple moving average of $7.78 and a two-hundred day simple moving average of $7.77.

Institutional Investors Weigh In On Acrivon Therapeutics

Several hedge funds have recently added to or reduced their stakes in ACRV. American International Group Inc. lifted its holdings in shares of Acrivon Therapeutics by 39.2% in the 1st quarter. American International Group Inc. now owns 6,016 shares of the company’s stock valued at $43,000 after buying an additional 1,695 shares during the period. Rhumbline Advisers raised its position in Acrivon Therapeutics by 48.9% during the second quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock valued at $94,000 after acquiring an additional 5,320 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in Acrivon Therapeutics during the second quarter valued at approximately $58,000. XTX Topco Ltd purchased a new stake in Acrivon Therapeutics in the 2nd quarter worth approximately $61,000. Finally, Barclays PLC boosted its position in Acrivon Therapeutics by 51.2% in the 3rd quarter. Barclays PLC now owns 33,306 shares of the company’s stock worth $233,000 after purchasing an additional 11,273 shares in the last quarter. 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.