HC Wainwright Reiterates “Buy” Rating for Acrivon Therapeutics (NASDAQ:ACRV)

HC Wainwright reiterated their buy rating on shares of Acrivon Therapeutics (NASDAQ:ACRV) in a report issued on Thursday morning, Marketbeat reports. HC Wainwright currently has a $22.00 price objective on the stock.

Several other research firms have also commented on ACRV. Piper Sandler Companies reaffirmed a “buy” rating and set a $30.00 target price on shares of Acrivon Therapeutics in a report on Friday, September 6th. LADENBURG THALM/SH SH upgraded Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Monday, September 16th. JMP Securities reiterated a “market outperform” rating and issued a $17.00 price objective on shares of Acrivon Therapeutics in a research report on Monday, September 16th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $28.00 price objective (up previously from $25.00) on shares of Acrivon Therapeutics in a research note on Monday, September 16th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Acrivon Therapeutics currently has an average rating of “Buy” and a consensus target price of $23.67.

Acrivon Therapeutics Trading Down 12.1 %

ACRV opened at $6.96 on Thursday. The stock has a market capitalization of $216.73 million, a P/E ratio of -2.58 and a beta of 0.66. The stock has a 50-day moving average price of $7.78 and a 200-day moving average price of $7.77. Acrivon Therapeutics has a 12-month low of $3.19 and a 12-month high of $11.90.

Institutional Investors Weigh In On Acrivon Therapeutics

A number of large investors have recently made changes to their positions in ACRV. Vanguard Group Inc. raised its holdings in Acrivon Therapeutics by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 507,185 shares of the company’s stock worth $3,626,000 after purchasing an additional 31,208 shares in the last quarter. American International Group Inc. lifted its stake in shares of Acrivon Therapeutics by 39.2% in the 1st quarter. American International Group Inc. now owns 6,016 shares of the company’s stock valued at $43,000 after purchasing an additional 1,695 shares during the period. Baker BROS. Advisors LP purchased a new position in shares of Acrivon Therapeutics in the 1st quarter valued at approximately $378,000. Bank of New York Mellon Corp boosted its position in shares of Acrivon Therapeutics by 50.1% during the second quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company’s stock valued at $212,000 after purchasing an additional 12,219 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Acrivon Therapeutics by 48.9% in the second quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock worth $94,000 after purchasing an additional 5,320 shares during the period. 71.62% of the stock is currently owned by 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.