Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Given Average Rating of “Buy” by Analysts

Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) have been assigned an average recommendation of “Buy” from the eight research firms that are covering the stock, MarketBeat reports. Eight analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $23.17.

Several research analysts have weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Acrivon Therapeutics in a research report on Wednesday, March 26th. KeyCorp assumed coverage on Acrivon Therapeutics in a report on Friday, January 31st. They set an “overweight” rating for the company. Finally, HC Wainwright lowered their price objective on Acrivon Therapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, March 26th.

Hedge Funds Weigh In On Acrivon Therapeutics

Institutional investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. purchased a new position in shares of Acrivon Therapeutics during the fourth quarter valued at about $40,000. Wealthedge Investment Advisors LLC bought a new stake in Acrivon Therapeutics in the 4th quarter worth approximately $65,000. Corton Capital Inc. purchased a new stake in shares of Acrivon Therapeutics during the 4th quarter worth approximately $73,000. American Century Companies Inc. boosted its position in shares of Acrivon Therapeutics by 14.2% during the 4th quarter. American Century Companies Inc. now owns 17,588 shares of the company’s stock valued at $106,000 after acquiring an additional 2,186 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Acrivon Therapeutics by 20.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 37,063 shares of the company’s stock valued at $223,000 after purchasing an additional 6,239 shares in the last quarter. 71.62% of the stock is owned by hedge funds and other institutional investors.

Acrivon Therapeutics Trading Down 7.9 %

Shares of ACRV stock opened at $1.51 on Friday. The stock has a market capitalization of $47.02 million, a P/E ratio of -0.56 and a beta of 0.85. The firm’s 50 day moving average is $4.95 and its 200 day moving average is $6.28. Acrivon Therapeutics has a 12-month low of $1.40 and a 12-month high of $11.90.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its earnings results on Thursday, March 27th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.09. As a group, equities analysts predict that Acrivon Therapeutics will post -2.49 earnings per share for the current year.

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.