BMO Capital Markets Cuts Acrivon Therapeutics (NASDAQ:ACRV) Price Target to $27.00

Acrivon Therapeutics (NASDAQ:ACRV) had its price objective decreased by equities research analysts at BMO Capital Markets from $28.00 to $27.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 241.34% from the stock’s current price.

A number of other equities analysts also recently weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 price target on shares of Acrivon Therapeutics in a research report on Monday, September 16th. LADENBURG THALM/SH SH raised shares of 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, September 16th. Piper Sandler Companies reissued a “buy” rating and set a $30.00 price target on shares of Acrivon Therapeutics in a research report on Friday, September 6th. Finally, HC Wainwright restated a “buy” rating and issued a $22.00 price objective on shares of Acrivon Therapeutics in a report on Thursday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $23.67.

Acrivon Therapeutics Stock Down 0.3 %

Shares of NASDAQ:ACRV traded down $0.02 during midday trading on Thursday, reaching $7.91. 9,099 shares of the company were exchanged, compared to its average volume of 284,023. The firm has a market cap of $244.97 million, a PE ratio of -2.86 and a beta of 0.66. Acrivon Therapeutics has a fifty-two week low of $3.19 and a fifty-two week high of $11.90. The stock has a fifty day simple moving average of $7.81 and a two-hundred day simple moving average of $7.81.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.08. As a group, analysts forecast that Acrivon Therapeutics will post -2.4 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACRV. Vanguard Group Inc. lifted its position in Acrivon Therapeutics by 6.6% during the first quarter. Vanguard Group Inc. now owns 507,185 shares of the company’s stock worth $3,626,000 after purchasing an additional 31,208 shares during the period. American International Group Inc. raised its position in Acrivon Therapeutics by 39.2% in the first quarter. American International Group Inc. now owns 6,016 shares of the company’s stock valued at $43,000 after purchasing an additional 1,695 shares during the last quarter. Baker BROS. Advisors LP acquired a new stake in Acrivon Therapeutics during the 1st quarter worth approximately $378,000. Bank of New York Mellon Corp grew its stake in shares of Acrivon Therapeutics by 50.1% in the second quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company’s stock worth $212,000 after purchasing an additional 12,219 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Acrivon Therapeutics by 48.9% in the second quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock worth $94,000 after acquiring an additional 5,320 shares during the period. 71.62% of the stock is owned by institutional investors and hedge funds.

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.