Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Receives $23.67 Average Target Price from Brokerages

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) has been given an average recommendation of “Buy” by the six analysts that are covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have covered the stock in the last year is $23.67.

ACRV has been the topic of several research reports. BMO Capital Markets dropped their target price on shares of Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Thursday, November 14th. JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 price objective on shares of Acrivon Therapeutics in a report on Monday, September 16th. HC Wainwright reissued a “buy” rating and issued a $22.00 target price on shares of Acrivon Therapeutics in a report on Thursday, November 14th. Piper Sandler Companies restated a “buy” rating and set a $30.00 price target on shares of Acrivon Therapeutics in a research note on Friday, September 6th. Finally, LADENBURG THALM/SH SH upgraded shares of Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Monday, September 16th.

Hedge Funds Weigh In On Acrivon Therapeutics

A number of hedge funds have recently modified their holdings of ACRV. Perceptive Advisors LLC lifted its stake in shares of Acrivon Therapeutics by 78.2% during the 2nd quarter. Perceptive Advisors LLC now owns 5,360,858 shares of the company’s stock valued at $31,093,000 after buying an additional 2,353,000 shares in the last quarter. Sands Capital Ventures LLC grew its position in shares of Acrivon Therapeutics by 28.4% during the second quarter. Sands Capital Ventures LLC now owns 2,122,605 shares of the company’s stock worth $12,311,000 after purchasing an additional 470,000 shares in the last quarter. American International Group Inc. raised its stake in Acrivon Therapeutics by 39.2% during the 1st 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 period. Marshall Wace LLP lifted its holdings in Acrivon Therapeutics by 58.8% in the 2nd quarter. Marshall Wace LLP now owns 948,866 shares of the company’s stock worth $5,503,000 after purchasing an additional 351,397 shares in the last quarter. Finally, Vanguard Group Inc. boosted 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 purchasing an additional 31,208 shares during the period. 71.62% of the stock is currently owned by institutional investors.

Acrivon Therapeutics Stock Performance

ACRV opened at $6.42 on Friday. The company’s 50-day simple moving average is $7.48 and its two-hundred day simple moving average is $7.61. Acrivon Therapeutics has a 52-week low of $3.19 and a 52-week high of $11.90. The stock has a market capitalization of $199.92 million, a P/E ratio of -2.38 and a beta of 0.55.

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.