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

HC Wainwright restated their buy rating on shares of Acrivon Therapeutics (NASDAQ:ACRV) in a report issued on Monday morning, Benzinga reports. They currently have a $22.00 target price on the stock.

ACRV has been the subject of several other research reports. LADENBURG THALM/SH SH upgraded Acrivon Therapeutics from a neutral rating to a buy rating and set a $16.00 target price for the company in a research report on Monday. Piper Sandler Companies reiterated a buy rating and set a $30.00 price objective on shares of Acrivon Therapeutics in a research note on Friday, September 6th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, Acrivon Therapeutics presently has a consensus rating of Buy and a consensus price target of $23.86.

Acrivon Therapeutics Stock Performance

Shares of ACRV stock opened at $7.56 on Monday. The firm has a fifty day moving average of $8.18 and a 200-day moving average of $7.68. The stock has a market cap of $233.43 million, a price-to-earnings ratio of -2.65 and a beta of 0.81. Acrivon Therapeutics has a 52-week low of $3.19 and a 52-week high of $11.90.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.08. On average, sell-side analysts predict that Acrivon Therapeutics will post -2.4 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ACRV. Perceptive Advisors LLC raised its stake in shares of Acrivon Therapeutics by 78.2% during the second quarter. Perceptive Advisors LLC now owns 5,360,858 shares of the company’s stock worth $31,093,000 after buying an additional 2,353,000 shares during the last quarter. Sands Capital Ventures LLC grew its holdings in Acrivon Therapeutics by 28.4% during the 2nd quarter. Sands Capital Ventures LLC now owns 2,122,605 shares of the company’s stock worth $12,311,000 after acquiring an additional 470,000 shares during the period. Marshall Wace LLP grew its holdings in Acrivon Therapeutics by 58.8% during the 2nd quarter. Marshall Wace LLP now owns 948,866 shares of the company’s stock worth $5,503,000 after acquiring an additional 351,397 shares during the period. Vanguard Group Inc. raised its position in shares of Acrivon Therapeutics by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 507,185 shares of the company’s stock valued at $3,626,000 after acquiring an additional 31,208 shares during the last quarter. Finally, Baker BROS. Advisors LP acquired a new position in shares of Acrivon Therapeutics in the 1st quarter valued at $378,000. Institutional investors own 71.62% of the company’s stock.

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.