Acrivon Therapeutics (NASDAQ:ACRV) Given “Market Outperform” Rating at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Acrivon Therapeutics (NASDAQ:ACRV) in a research report released on Monday morning, Benzinga reports. The firm currently has a $17.00 price objective on the stock.

Several other analysts have also weighed in on ACRV. Piper Sandler Companies restated a buy rating and issued a $30.00 price objective on shares of Acrivon Therapeutics in a report on Friday, September 6th. LADENBURG THALM/SH SH raised Acrivon Therapeutics from a neutral rating to a buy rating and set a $16.00 target price for the company in a report on Monday. HC Wainwright reaffirmed a buy rating and set a $22.00 target price on shares of Acrivon Therapeutics in a report on Monday. Finally, BMO Capital Markets reaffirmed an outperform rating and set a $28.00 target price (up from $25.00) on shares of Acrivon Therapeutics in a report on Monday. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Acrivon Therapeutics currently has a consensus rating of Buy and a consensus price target of $23.86.

Acrivon Therapeutics Stock Up 0.4 %

Shares of Acrivon Therapeutics stock opened at $7.59 on Monday. The firm has a market cap of $234.36 million, a price-to-earnings ratio of -2.65 and a beta of 0.81. The business has a fifty day simple moving average of $8.19 and a 200-day simple moving average of $7.68. Acrivon Therapeutics has a fifty-two week low of $3.19 and a fifty-two week high of $11.90.

Acrivon Therapeutics (NASDAQ:ACRV) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.08. Analysts anticipate that Acrivon Therapeutics will post -2.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Acrivon Therapeutics

Hedge funds have recently bought and sold shares of the business. American International Group Inc. lifted its stake in Acrivon Therapeutics by 39.2% in the 1st quarter. American International Group Inc. now owns 6,016 shares of the company’s stock worth $43,000 after acquiring an additional 1,695 shares in the last quarter. Vanguard Group Inc. lifted its stake 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 acquiring an additional 31,208 shares in the last quarter. Baker BROS. Advisors LP purchased a new stake in Acrivon Therapeutics in the 1st quarter worth about $378,000. Dimensional Fund Advisors LP purchased a new stake in Acrivon Therapeutics in the 2nd quarter worth about $58,000. Finally, XTX Topco Ltd purchased a new stake in Acrivon Therapeutics in the 2nd quarter worth about $61,000. 71.62% of the stock is owned by hedge funds and other institutional investors.

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.