HC Wainwright Reaffirms Buy Rating for Acrivon Therapeutics (NASDAQ:ACRV)

HC Wainwright restated their buy rating on shares of Acrivon Therapeutics (NASDAQ:ACRV) in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a $20.00 price target on the stock.

Several other analysts have also recently commented on ACRV. JMP Securities reiterated a market outperform rating and issued a $14.00 price target on shares of Acrivon Therapeutics in a research note on Monday, April 1st. BMO Capital Markets reiterated an outperform rating and issued a $18.00 price target on shares of Acrivon Therapeutics in a research note on Monday, April 1st. Finally, LADENBURG THALM/SH SH decreased their price target on shares of Acrivon Therapeutics from $18.00 to $14.00 and set a buy rating on the stock in a research note on Friday, April 5th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Acrivon Therapeutics currently has a consensus rating of Buy and an average price target of $22.63.

Acrivon Therapeutics Stock Performance

Shares of Acrivon Therapeutics stock opened at $8.46 on Thursday. The company has a market capitalization of $191.53 million, a P/E ratio of -3.10 and a beta of 1.94. The company has a fifty day moving average of $6.65 and a 200 day moving average of $5.36. Acrivon Therapeutics has a fifty-two week low of $3.19 and a fifty-two week high of $14.30.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its earnings results on Thursday, March 28th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.14). Analysts forecast that Acrivon Therapeutics will post -3.3 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Perceptive Advisors Llc acquired 2,353,000 shares of Acrivon Therapeutics stock in a transaction that occurred on Thursday, April 11th. The shares were bought 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Acrivon Therapeutics

An institutional investor recently raised its position in Acrivon Therapeutics stock. Exchange Traded Concepts LLC grew its stake in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,289 shares of the company’s stock after acquiring an additional 3,370 shares during the period. Exchange Traded Concepts LLC owned 0.06% of Acrivon Therapeutics worth $65,000 at the end of the most recent reporting period. 71.62% of the stock is owned by hedge funds and other institutional investors.

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.