Acrivon Therapeutics’ (ACRV) “Buy” Rating Reiterated at Piper Sandler Companies

Piper Sandler Companies reaffirmed their buy rating on shares of Acrivon Therapeutics (NASDAQ:ACRV) in a report issued on Friday morning, Stock Target Advisor reports. Piper Sandler Companies currently has a $30.00 target price on the stock.

Several other analysts also recently issued reports on ACRV. BMO Capital Markets reissued an outperform rating and issued a $25.00 price target on shares of Acrivon Therapeutics in a research report on Wednesday, May 15th. HC Wainwright reissued a buy rating and issued a $22.00 price target on shares of Acrivon Therapeutics in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Acrivon Therapeutics presently has a consensus rating of Moderate Buy and an average target price of $23.14.

Acrivon Therapeutics Stock Performance

Acrivon Therapeutics stock opened at $7.90 on Friday. Acrivon Therapeutics has a 52-week low of $3.19 and a 52-week high of $11.90. The firm has a 50 day moving average price of $7.93 and a two-hundred day moving average price of $7.52. The firm has a market cap of $244.66 million, a price-to-earnings ratio of -2.74 and a beta of 0.81.

Acrivon Therapeutics (NASDAQ:ACRV) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.08. As a group, equities research analysts predict 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 and other institutional investors have recently made changes to their positions in ACRV. American International Group Inc. raised its stake in Acrivon Therapeutics by 39.2% in the 1st quarter. American International Group Inc. now owns 6,016 shares of the company’s stock valued at $43,000 after acquiring an additional 1,695 shares during the period. Dimensional Fund Advisors LP bought a new stake in Acrivon Therapeutics in the 2nd quarter valued at about $58,000. XTX Topco Ltd bought a new stake in Acrivon Therapeutics in the 2nd quarter valued at about $61,000. Rhumbline Advisers raised its stake in Acrivon Therapeutics by 48.9% in the 2nd quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock valued at $94,000 after acquiring an additional 5,320 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in 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 acquiring an additional 12,219 shares during the period. 71.62% of the stock is owned by hedge funds and other 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.