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

Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) have been given an average recommendation of “Buy” by the seven ratings firms that are presently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $20.14.

Several analysts have commented on ACRV shares. HC Wainwright restated a “buy” rating and set a $20.00 target price on shares of Acrivon Therapeutics in a report on Thursday, March 28th. JMP Securities restated a “market outperform” rating and set a $14.00 target price on shares of Acrivon Therapeutics in a report on Monday, April 1st. LADENBURG THALM/SH SH dropped their target price on shares of Acrivon Therapeutics from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Finally, BMO Capital Markets restated an “outperform” rating and set a $18.00 target price on shares of Acrivon Therapeutics in a report on Monday, April 1st.

Insider Activity

In other Acrivon Therapeutics news, major shareholder Perceptive Advisors Llc acquired 2,353,000 shares of the stock in a transaction dated Thursday, April 11th. The shares were bought at an average cost of $8.50 per share, for a total transaction of $20,000,500.00. Following the completion of the acquisition, 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 legal filing with the Securities & Exchange Commission, which is available through this link. 7.30% of the stock is owned by corporate insiders.

Institutional Trading of Acrivon Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN grew its stake in shares of Acrivon Therapeutics by 108.1% in the second quarter. Wells Fargo & Company MN now owns 3,305 shares of the company’s stock valued at $43,000 after buying an additional 1,717 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Acrivon Therapeutics by 8.6% in the second quarter. Bank of New York Mellon Corp now owns 24,795 shares of the company’s stock valued at $321,000 after buying an additional 1,958 shares in the last quarter. New York State Common Retirement Fund bought a new position in shares of Acrivon Therapeutics in the first quarter valued at $28,000. Citigroup Inc. grew its stake in shares of Acrivon Therapeutics by 1,281.2% in the second quarter. Citigroup Inc. now owns 2,790 shares of the company’s stock valued at $36,000 after buying an additional 2,588 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Acrivon Therapeutics by 4.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 60,958 shares of the company’s stock valued at $790,000 after buying an additional 2,749 shares in the last quarter. 71.62% of the stock is currently owned by institutional investors and hedge funds.

Acrivon Therapeutics Price Performance

Shares of NASDAQ:ACRV opened at $9.39 on Friday. The company has a market capitalization of $212.59 million, a price-to-earnings ratio of -3.44 and a beta of 1.94. The firm’s 50 day simple moving average is $6.10 and its 200 day simple moving average is $5.31. Acrivon Therapeutics has a fifty-two week low of $3.19 and a fifty-two week high of $14.30.

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.