Cantor Fitzgerald Reiterates “Overweight” Rating for Acrivon Therapeutics (NASDAQ:ACRV)

Acrivon Therapeutics (NASDAQ:ACRV)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Wednesday,Benzinga reports.

A number of other analysts also recently weighed in on ACRV. HC Wainwright reduced their target price on shares of Acrivon Therapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday. KeyCorp began coverage on Acrivon Therapeutics in a research note on Friday, January 31st. They set an “overweight” rating for the company. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $23.17.

Acrivon Therapeutics Stock Down 37.1 %

Shares of NASDAQ:ACRV traded down $2.00 during trading on Wednesday, hitting $3.39. The stock had a trading volume of 460,358 shares, compared to its average volume of 249,506. Acrivon Therapeutics has a 12 month low of $3.38 and a 12 month high of $11.90. The company has a market capitalization of $105.61 million, a PE ratio of -1.27 and a beta of 0.85. The firm’s fifty day moving average is $5.54 and its 200 day moving average is $6.63.

Hedge Funds Weigh In On Acrivon Therapeutics

A number of hedge funds have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. bought a new stake in shares of Acrivon Therapeutics in the fourth quarter worth approximately $40,000. Wealthedge Investment Advisors LLC purchased a new stake in Acrivon Therapeutics in the fourth quarter worth approximately $65,000. Corton Capital Inc. bought a new stake in Acrivon Therapeutics in the 4th quarter worth approximately $73,000. American Century Companies Inc. raised its stake in Acrivon Therapeutics by 14.2% during the 4th quarter. American Century Companies Inc. now owns 17,588 shares of the company’s stock valued at $106,000 after buying an additional 2,186 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Acrivon Therapeutics by 20.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 37,063 shares of the company’s stock valued at $223,000 after buying an additional 6,239 shares during the period. Hedge funds and other institutional investors own 71.62% of the company’s stock.

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.