Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Receives $23.67 Average PT from Analysts

Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) have received an average rating of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have covered the stock in the last year is $23.67.

ACRV has been the subject of several research reports. BMO Capital Markets lowered their target price on Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, November 14th. HC Wainwright reissued a “buy” rating and set a $22.00 price objective on shares of Acrivon Therapeutics in a report on Thursday, November 14th.

Acrivon Therapeutics Price Performance

Shares of Acrivon Therapeutics stock opened at $5.45 on Monday. The firm has a 50 day simple moving average of $6.41 and a 200 day simple moving average of $7.40. Acrivon Therapeutics has a fifty-two week low of $3.19 and a fifty-two week high of $11.90. The firm has a market cap of $169.71 million, a P/E ratio of -2.02 and a beta of 0.77.

Hedge Funds Weigh In On Acrivon Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACRV. Perceptive Advisors LLC raised its position in shares of Acrivon Therapeutics by 78.2% in the 2nd quarter. Perceptive Advisors LLC now owns 5,360,858 shares of the company’s stock valued at $31,093,000 after acquiring an additional 2,353,000 shares during the period. Marshall Wace LLP raised its holdings in Acrivon Therapeutics by 58.8% in the second 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 during the period. State Street Corp boosted its position in shares of Acrivon Therapeutics by 26.4% during the third quarter. State Street Corp now owns 225,896 shares of the company’s stock worth $1,581,000 after purchasing an additional 47,233 shares in the last quarter. Exome Asset Management LLC acquired a new position in shares of Acrivon Therapeutics in the 3rd quarter valued at $817,000. Finally, Bank of New York Mellon Corp increased its position in shares of Acrivon Therapeutics by 50.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company’s stock valued at $212,000 after buying an additional 12,219 shares in the last quarter. 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.