Acrivon Therapeutics (NASDAQ:ACRV) Given New $30.00 Price Target at Piper Sandler

Acrivon Therapeutics (NASDAQ:ACRV) had its price target boosted by Piper Sandler from $26.00 to $30.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages also recently weighed in on ACRV. HC Wainwright reaffirmed a buy rating and set a $20.00 price objective on shares of Acrivon Therapeutics in a research report on Thursday. BMO Capital Markets reaffirmed an outperform rating and set a $18.00 price objective on shares of Acrivon Therapeutics in a research report on Monday, April 1st. LADENBURG THALM/SH SH lowered their price objective on shares of Acrivon Therapeutics from $18.00 to $14.00 and set a buy rating for the company in a research report on Friday, April 5th. Finally, JMP Securities reaffirmed a market outperform rating and set a $14.00 price objective on shares of Acrivon Therapeutics in a research report on Monday, April 1st. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of Buy and an average target price of $21.75.

Acrivon Therapeutics Stock Performance

ACRV opened at $8.47 on Thursday. The company has a 50-day moving average of $6.56 and a 200-day moving average of $5.35. The company has a market capitalization of $191.76 million, a P/E 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 released its earnings results on Thursday, March 28th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.14). As a group, sell-side analysts expect that Acrivon Therapeutics will post -3.3 earnings per share for the current fiscal year.

Insider Transactions at Acrivon Therapeutics

In related news, major shareholder Perceptive Advisors Llc purchased 2,353,000 shares of Acrivon Therapeutics stock in a transaction dated Thursday, April 11th. The stock was bought at an average cost of $8.50 per share, with a total value of $20,000,500.00. Following the purchase, the insider now owns 5,360,858 shares in the company, valued at approximately $45,567,293. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 7.30% of the company’s stock.

Institutional Trading of Acrivon Therapeutics

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