HC Wainwright Reaffirms “Buy” Rating for Acrivon Therapeutics (NASDAQ:ACRV)

Acrivon Therapeutics (NASDAQ:ACRV)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a note issued to investors on Thursday, Marketbeat.com reports. They presently have a $22.00 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 216.09% from the stock’s previous close.

ACRV has been the topic of a number of other research reports. Piper Sandler Companies reiterated a “buy” rating and set a $30.00 price objective on shares of Acrivon Therapeutics in a research note on Friday, September 6th. BMO Capital Markets reissued an “outperform” rating and set a $28.00 price target (up previously from $25.00) 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 price target for the company in a research report on Monday, September 16th. Finally, JMP Securities reissued a “market outperform” rating and set a $17.00 price target on shares of Acrivon Therapeutics in a research report on Monday, September 16th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $23.67.

Acrivon Therapeutics Stock Performance

NASDAQ ACRV opened at $6.96 on Thursday. Acrivon Therapeutics has a one year low of $3.19 and a one year high of $11.90. The company’s 50 day moving average price is $7.78 and its 200 day moving average price is $7.79. The firm has a market capitalization of $215.57 million, a price-to-earnings ratio of -2.58 and a beta of 0.66.

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

Hedge Funds Weigh In On Acrivon Therapeutics

A number of hedge funds have recently added to or reduced their stakes in ACRV. Vanguard Group Inc. boosted its holdings in Acrivon Therapeutics by 6.6% in 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. boosted its holdings in Acrivon Therapeutics by 39.2% in the first quarter. American International Group Inc. now owns 6,016 shares of the company’s stock worth $43,000 after purchasing an additional 1,695 shares during the period. Baker BROS. Advisors LP acquired a new position in Acrivon Therapeutics in the first quarter worth $378,000. Bank of New York Mellon Corp boosted its holdings in 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 period. Finally, Rhumbline Advisers boosted its holdings in 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 purchasing an additional 5,320 shares during the period. Institutional investors and hedge funds 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.