BMO Capital Markets Lowers Acrivon Therapeutics (NASDAQ:ACRV) Price Target to $27.00

Acrivon Therapeutics (NASDAQ:ACRV) had its target price lowered by stock analysts at BMO Capital Markets from $28.00 to $27.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 287.93% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. LADENBURG THALM/SH SH raised Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Monday, September 16th. Piper Sandler Companies reaffirmed a “buy” rating and set a $30.00 price target on shares of Acrivon Therapeutics in a research report on Friday, September 6th. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 price target on shares of Acrivon Therapeutics in a research report on Monday, September 16th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $22.00 price target on shares of Acrivon Therapeutics in a research report on Thursday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $23.67.

Acrivon Therapeutics Stock Down 12.1 %

Shares of ACRV opened at $6.96 on Thursday. Acrivon Therapeutics has a 12-month low of $3.19 and a 12-month high of $11.90. The stock’s fifty day simple moving average is $7.78 and its 200-day simple moving average is $7.79. The firm has a market capitalization of $215.57 million, a PE ratio of -2.58 and a beta of 0.66.

Acrivon Therapeutics (NASDAQ:ACRV) last released its earnings results on Tuesday, August 13th. The company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.08. Analysts anticipate that Acrivon Therapeutics will post -2.4 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Perceptive Advisors LLC grew its holdings in shares of Acrivon Therapeutics by 78.2% during the second quarter. Perceptive Advisors LLC now owns 5,360,858 shares of the company’s stock worth $31,093,000 after buying an additional 2,353,000 shares in the last quarter. Sands Capital Ventures LLC grew its stake in Acrivon Therapeutics by 28.4% in the second quarter. Sands Capital Ventures LLC now owns 2,122,605 shares of the company’s stock valued at $12,311,000 after purchasing an additional 470,000 shares in the last quarter. Marshall Wace LLP grew its stake in Acrivon Therapeutics by 58.8% in the second quarter. Marshall Wace LLP now owns 948,866 shares of the company’s stock valued at $5,503,000 after purchasing an additional 351,397 shares in the last quarter. Vanguard Group Inc. grew its stake in Acrivon Therapeutics by 6.6% in the first quarter. Vanguard Group Inc. now owns 507,185 shares of the company’s stock valued at $3,626,000 after purchasing an additional 31,208 shares in the last quarter. Finally, State Street Corp grew its stake in Acrivon Therapeutics by 26.4% in the third quarter. State Street Corp now owns 225,896 shares of the company’s stock valued at $1,581,000 after purchasing an additional 47,233 shares in the last quarter. 71.62% of the stock is currently owned by institutional investors.

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.