Acrivon Therapeutics (NASDAQ:ACRV) Releases Earnings Results, Beats Expectations By $0.08 EPS

Acrivon Therapeutics (NASDAQ:ACRV) issued its quarterly earnings results on Tuesday. The company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.08, Yahoo Finance reports.

Acrivon Therapeutics Stock Performance

Shares of ACRV stock traded up $0.07 on Thursday, reaching $7.09. 17,042 shares of the company’s stock traded hands, compared to its average volume of 363,966. The business’s 50 day moving average price is $7.21 and its two-hundred day moving average price is $6.86. The company has a market capitalization of $218.92 million, a P/E ratio of -2.63 and a beta of 0.79. Acrivon Therapeutics has a 12-month low of $3.19 and a 12-month high of $12.52.

Analysts Set New Price Targets

A number of research firms have recently commented on ACRV. Piper Sandler boosted their price objective on Acrivon Therapeutics from $26.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. JMP Securities raised their price objective on shares of Acrivon Therapeutics from $14.00 to $17.00 and gave the company a “market outperform” rating in a research report on Thursday, April 25th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of Acrivon Therapeutics in a research note on Wednesday, May 15th. LADENBURG THALM/SH SH lowered shares of Acrivon Therapeutics from a “buy” rating to a “neutral” rating in a research note on Monday, April 29th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price target on shares of Acrivon Therapeutics in a report on Tuesday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Acrivon Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $22.57.

About Acrivon Therapeutics

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.