Acrivon Therapeutics (NASDAQ:ACRV) Downgraded to Neutral at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH downgraded shares of Acrivon Therapeutics (NASDAQ:ACRV) from a buy rating to a neutral rating in a report released on Monday, MarketBeat.com reports.

A number of other research firms have also commented on ACRV. JMP Securities lifted their price objective on Acrivon Therapeutics from $14.00 to $17.00 and gave the stock a market outperform rating in a research note on Thursday, April 25th. Piper Sandler boosted their target price on shares of Acrivon Therapeutics from $26.00 to $30.00 and gave the company an overweight rating in a report on Thursday, April 25th. BMO Capital Markets increased their price target on Acrivon Therapeutics from $18.00 to $25.00 and gave the stock an outperform rating in a report on Friday. Finally, HC Wainwright reissued a buy rating and issued a $20.00 price objective on shares of Acrivon Therapeutics in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Acrivon Therapeutics currently has a consensus rating of Moderate Buy and a consensus price target of $22.63.

Acrivon Therapeutics Stock Performance

Shares of NASDAQ ACRV opened at $10.00 on Monday. The firm has a 50 day moving average price of $6.77 and a two-hundred day moving average price of $5.37. The stock has a market cap of $226.40 million, a P/E ratio of -3.66 and a beta of 1.93. Acrivon Therapeutics has a 52-week low of $3.19 and a 52-week high of $14.30.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its quarterly earnings data on Thursday, March 28th. The company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.14). Analysts predict that Acrivon Therapeutics will post -3.16 earnings per share for the current fiscal year.

Insider Transactions at Acrivon Therapeutics

In other news, major shareholder Perceptive Advisors Llc bought 2,353,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The stock was acquired at an average cost of $8.50 per share, with a total value of $20,000,500.00. Following the transaction, the insider now directly owns 5,360,858 shares of the company’s stock, valued at approximately $45,567,293. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 7.30% of the company’s stock.

Institutional Trading of Acrivon Therapeutics

A hedge fund recently raised its stake in Acrivon Therapeutics stock. Exchange Traded Concepts LLC grew its holdings in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,289 shares of the company’s stock after buying an additional 3,370 shares during the quarter. Exchange Traded Concepts LLC owned 0.06% of Acrivon Therapeutics worth $65,000 at the end of the most recent reporting period. 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.