Analysts Set Acrivon Therapeutics, Inc. (NASDAQ:ACRV) PT at $15.00

Shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) have received an average recommendation of “Moderate Buy” from the eight analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $15.00.

Several equities analysts recently commented on ACRV shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Acrivon Therapeutics in a report on Saturday, September 27th. Oppenheimer reduced their target price on shares of Acrivon Therapeutics from $9.00 to $8.00 and set an “outperform” rating on the stock in a research report on Thursday, August 14th.

Acrivon Therapeutics Trading Up 2.7%

Shares of NASDAQ:ACRV opened at $1.91 on Friday. The company has a market capitalization of $60.09 million, a price-to-earnings ratio of -0.85 and a beta of 1.80. Acrivon Therapeutics has a 12 month low of $1.05 and a 12 month high of $8.74. The firm’s 50-day moving average is $1.46 and its 200 day moving average is $1.56.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($0.55) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.02. As a group, equities analysts forecast that Acrivon Therapeutics will post -2.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Acrivon Therapeutics

Institutional investors have recently modified their holdings of the stock. Quadrature Capital Ltd purchased a new position in shares of Acrivon Therapeutics during the second quarter worth approximately $26,000. Nuveen LLC purchased a new position in shares of Acrivon Therapeutics during the first quarter worth approximately $27,000. Invesco Ltd. purchased a new position in shares of Acrivon Therapeutics during the first quarter worth approximately $72,000. Wealthedge Investment Advisors LLC increased its position in shares of Acrivon Therapeutics by 420.1% during the first quarter. Wealthedge Investment Advisors LLC now owns 56,467 shares of the company’s stock worth $115,000 after acquiring an additional 45,610 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Acrivon Therapeutics during the second quarter worth approximately $126,000. 71.62% of the stock is owned by hedge funds and other institutional investors.

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.