Cantor Fitzgerald Reiterates Overweight Rating for Acrivon Therapeutics (NASDAQ:ACRV)

Acrivon Therapeutics (NASDAQ:ACRV)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a note issued to investors on Wednesday,Benzinga reports.

Other research analysts also recently issued research reports about the stock. HC Wainwright dropped their target price on shares of Acrivon Therapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday. KeyCorp began coverage on Acrivon Therapeutics in a research note on Friday, January 31st. They issued an “overweight” rating for the company. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Acrivon Therapeutics has a consensus rating of “Buy” and an average price target of $23.17.

Acrivon Therapeutics Stock Down 37.1 %

NASDAQ:ACRV traded down $2.00 during trading hours on Wednesday, hitting $3.39. 460,358 shares of the stock traded hands, compared to its average volume of 249,506. The stock has a 50 day moving average price of $5.54 and a 200 day moving average price of $6.63. The company has a market cap of $105.61 million, a price-to-earnings ratio of -1.27 and a beta of 0.85. Acrivon Therapeutics has a 1 year low of $3.38 and a 1 year high of $11.90.

Institutional Trading of Acrivon Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Acorn Capital Advisors LLC bought a new position in shares of Acrivon Therapeutics during the 4th quarter valued at approximately $2,440,000. Exome Asset Management LLC purchased a new stake in Acrivon Therapeutics during the third quarter valued at $817,000. State Street Corp raised its stake in Acrivon Therapeutics by 26.4% during the third quarter. State Street Corp now owns 225,896 shares of the company’s stock valued at $1,581,000 after purchasing an additional 47,233 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Acrivon Therapeutics by 548.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,991 shares of the company’s stock worth $238,000 after buying an additional 28,748 shares during the last quarter. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Acrivon Therapeutics by 29.7% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 102,784 shares of the company’s stock valued at $619,000 after buying an additional 23,535 shares in the last quarter. 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.