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

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) has been assigned an average rating of “Buy” from the eight analysts that are presently covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have covered the stock in the last year is $23.17.

A number of research firms recently issued reports on ACRV. HC Wainwright dropped their price objective on Acrivon Therapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, March 26th. KeyCorp assumed coverage on shares of Acrivon Therapeutics in a research note on Friday, January 31st. They set an “overweight” rating for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Acrivon Therapeutics in a research note on Wednesday, March 26th.

Acrivon Therapeutics Price Performance

Shares of ACRV stock opened at $1.51 on Friday. The company has a market cap of $47.02 million, a PE ratio of -0.56 and a beta of 0.85. The stock’s 50 day simple moving average is $4.95 and its two-hundred day simple moving average is $6.28. Acrivon Therapeutics has a 1 year low of $1.40 and a 1 year high of $11.90.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its quarterly earnings data on Thursday, March 27th. The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.69) by $0.09. Equities research analysts expect that Acrivon Therapeutics will post -2.49 EPS for the current year.

Hedge Funds Weigh In On Acrivon Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACRV. China Universal Asset Management Co. Ltd. purchased a new position in shares of Acrivon Therapeutics in the 4th quarter worth approximately $40,000. Wealthedge Investment Advisors LLC acquired a new position in Acrivon Therapeutics during the 4th quarter valued at about $65,000. Corton Capital Inc. acquired a new stake in Acrivon Therapeutics in the fourth quarter worth about $73,000. American Century Companies Inc. boosted its holdings in Acrivon Therapeutics by 14.2% in the fourth 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. Finally, Barclays PLC increased its holdings in shares of Acrivon Therapeutics by 51.2% during the third quarter. Barclays PLC now owns 33,306 shares of the company’s stock valued at $233,000 after acquiring an additional 11,273 shares in the last quarter. Hedge funds and other institutional investors own 71.62% of the company’s stock.

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.