Acrivon Therapeutics (NASDAQ:ACRV) PT Raised to $30.00 at Piper Sandler

Acrivon Therapeutics (NASDAQ:ACRV) had its target price boosted by Piper Sandler from $26.00 to $30.00 in a research note issued to investors on Thursday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other equities research analysts also recently issued reports about the company. BMO Capital Markets reiterated an outperform rating and issued a $18.00 target price on shares of Acrivon Therapeutics in a report on Monday, April 1st. HC Wainwright reissued a buy rating and issued a $20.00 price objective on shares of Acrivon Therapeutics in a research report on Thursday. LADENBURG THALM/SH SH cut their price objective on Acrivon Therapeutics from $18.00 to $14.00 and set a buy rating on the stock in a research report on Friday, April 5th. Finally, JMP Securities reissued a market outperform rating and issued a $14.00 price objective on shares of Acrivon Therapeutics in a research report on Monday, April 1st. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of $22.63.

Acrivon Therapeutics Price Performance

Shares of ACRV opened at $8.46 on Thursday. Acrivon Therapeutics has a 1 year low of $3.19 and a 1 year high of $14.30. The company has a market capitalization of $191.53 million, a price-to-earnings ratio of -3.10 and a beta of 1.94. The business has a 50-day moving average of $6.65 and a 200-day moving average of $5.36.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its quarterly earnings data on Thursday, March 28th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.14). As a group, sell-side analysts anticipate that Acrivon Therapeutics will post -3.3 EPS for the current year.

Insider Activity at Acrivon Therapeutics

In related news, major shareholder Perceptive Advisors Llc acquired 2,353,000 shares of the firm’s stock in a transaction that occurred on 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 purchase, the insider now owns 5,360,858 shares in the company, valued at approximately $45,567,293. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Acrivon Therapeutics

A hedge fund recently raised its stake in Acrivon Therapeutics stock. Exchange Traded Concepts LLC raised its holdings in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,289 shares of the company’s stock after buying an additional 3,370 shares during the quarter. Exchange Traded Concepts LLC owned about 0.06% of Acrivon Therapeutics worth $65,000 as of its most recent filing with the Securities & Exchange Commission. 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.