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

Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) have earned an average recommendation of “Buy” from the eight brokerages that are covering the firm, Marketbeat reports. Eight research analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have covered the stock in the last year is $23.67.

A number of research analysts recently commented on ACRV shares. KeyCorp began coverage on Acrivon Therapeutics in a research note on Friday, January 31st. They issued an “overweight” rating on the stock. Cantor Fitzgerald began coverage on Acrivon Therapeutics in a research report on Friday, January 31st. They set an “overweight” rating on the stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp lifted its stake in shares of Acrivon Therapeutics by 26.4% in the 3rd quarter. State Street Corp now owns 225,896 shares of the company’s stock valued at $1,581,000 after acquiring an additional 47,233 shares during the last quarter. Barclays PLC lifted its position in Acrivon Therapeutics by 51.2% in the third quarter. Barclays PLC now owns 33,306 shares of the company’s stock valued at $233,000 after purchasing an additional 11,273 shares during the last quarter. Exome Asset Management LLC bought a new stake in Acrivon Therapeutics in the third quarter valued at approximately $817,000. JPMorgan Chase & Co. boosted its stake in shares of Acrivon Therapeutics by 548.3% during the third quarter. JPMorgan Chase & Co. now owns 33,991 shares of the company’s stock valued at $238,000 after purchasing an additional 28,748 shares during the period. Finally, China Universal Asset Management Co. Ltd. bought a new position in shares of Acrivon Therapeutics in the fourth quarter worth approximately $40,000. 71.62% of the stock is owned by institutional investors.

Acrivon Therapeutics Price Performance

Shares of NASDAQ:ACRV opened at $5.50 on Tuesday. The company’s fifty day moving average price is $5.59 and its 200-day moving average price is $6.77. The firm has a market capitalization of $171.25 million, a price-to-earnings ratio of -2.04 and a beta of 0.85. Acrivon Therapeutics has a one year low of $4.69 and a one year high of $11.90.

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.