Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Given Consensus Rating of “Buy” by Brokerages

Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) have been given an average recommendation of “Buy” by the six research firms that are currently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $23.67.

Several brokerages have weighed in on ACRV. LADENBURG THALM/SH SH raised Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Monday, September 16th. Piper Sandler Companies reiterated a “buy” rating and issued a $30.00 price objective on shares of Acrivon Therapeutics in a research report on Friday, September 6th. JMP Securities restated a “market outperform” rating and issued a $17.00 target price on shares of Acrivon Therapeutics in a research report on Monday, September 16th. BMO Capital Markets cut their price target on Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Thursday, November 14th. Finally, HC Wainwright reissued a “buy” rating and issued a $22.00 price objective on shares of Acrivon Therapeutics in a report on Thursday, November 14th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP acquired a new stake in Acrivon Therapeutics in the second quarter worth approximately $58,000. XTX Topco Ltd acquired a new stake in shares of Acrivon Therapeutics in the second quarter valued at $61,000. Rhumbline Advisers lifted its holdings in shares of Acrivon Therapeutics by 48.9% in the second quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock valued at $94,000 after buying an additional 5,320 shares during the period. Bank of New York Mellon Corp boosted its stake in Acrivon Therapeutics by 50.1% during the second quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company’s stock valued at $212,000 after buying an additional 12,219 shares in the last quarter. Finally, Barclays PLC grew its holdings in Acrivon Therapeutics by 51.2% during the third quarter. Barclays PLC now owns 33,306 shares of the company’s stock worth $233,000 after acquiring an additional 11,273 shares during the period. 71.62% of the stock is currently owned by institutional investors.

Acrivon Therapeutics Trading Up 11.3 %

NASDAQ:ACRV opened at $6.02 on Thursday. The stock has a 50 day moving average of $7.18 and a 200-day moving average of $7.47. The firm has a market capitalization of $187.44 million, a PE ratio of -2.23 and a beta of 0.55. Acrivon Therapeutics has a 52 week low of $3.19 and a 52 week high of $11.90.

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.