JMP Securities Raises Acrivon Therapeutics (NASDAQ:ACRV) Price Target to $17.00

Acrivon Therapeutics (NASDAQ:ACRV) had its price objective increased by JMP Securities from $14.00 to $17.00 in a research note published on Thursday, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

A number of other brokerages have also recently issued reports on ACRV. Piper Sandler lifted their price objective on Acrivon Therapeutics from $26.00 to $30.00 and gave the company an overweight rating in a report on Thursday. LADENBURG THALM/SH SH cut their price objective on Acrivon Therapeutics from $18.00 to $14.00 and set a buy rating for the company in a report on Friday, April 5th. BMO Capital Markets reissued an outperform rating and set a $18.00 price objective on shares of Acrivon Therapeutics in a report on Monday, April 1st. Finally, HC Wainwright reaffirmed a buy rating and issued a $20.00 price target on shares of Acrivon Therapeutics in a report on Thursday. Eight analysts have rated the stock with a buy rating, According to MarketBeat, Acrivon Therapeutics presently has an average rating of Buy and an average target price of $22.63.

Acrivon Therapeutics Trading Down 0.1 %

Shares of Acrivon Therapeutics stock opened at $8.46 on Thursday. The company’s fifty day simple moving average is $6.65 and its 200-day simple moving average is $5.35. The company has a market cap of $191.53 million, a price-to-earnings ratio of -3.10 and a beta of 1.94. Acrivon Therapeutics has a 1 year low of $3.19 and a 1 year high of $14.30.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its quarterly earnings results on Thursday, March 28th. The company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.14). As a group, research analysts forecast that Acrivon Therapeutics will post -3.16 earnings per share for the current fiscal year.

Insider Activity at Acrivon Therapeutics

In other Acrivon Therapeutics news, major shareholder Perceptive Advisors Llc acquired 2,353,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The stock was acquired at an average cost of $8.50 per share, for a total transaction of $20,000,500.00. Following the transaction, the insider now owns 5,360,858 shares of the company’s stock, valued at $45,567,293. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Acrivon Therapeutics

A hedge fund recently raised its stake in Acrivon Therapeutics stock. Exchange Traded Concepts LLC raised its position in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 13,289 shares of the company’s stock after acquiring an additional 3,370 shares during the period. Exchange Traded Concepts LLC owned about 0.06% of Acrivon Therapeutics worth $65,000 as of its most recent filing with the SEC. 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.