BMO Capital Markets Increases Acrivon Therapeutics (NASDAQ:ACRV) Price Target to $25.00

Acrivon Therapeutics (NASDAQ:ACRV) had its price target increased by BMO Capital Markets from $18.00 to $25.00 in a research note released on Friday, Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts also recently issued reports about the company. LADENBURG THALM/SH SH lowered their price target on Acrivon Therapeutics from $18.00 to $14.00 and set a buy rating on the stock in a report on Friday, April 5th. HC Wainwright reaffirmed a buy rating and set a $20.00 price target on shares of Acrivon Therapeutics in a report on Thursday, April 25th. JMP Securities boosted their price objective on shares of Acrivon Therapeutics from $14.00 to $17.00 and gave the company a market outperform rating in a report on Thursday, April 25th. Finally, Piper Sandler increased their price objective on shares of Acrivon Therapeutics from $26.00 to $30.00 and gave the company an overweight rating in a research report on Thursday, April 25th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $22.63.

Acrivon Therapeutics Stock Performance

NASDAQ:ACRV opened at $10.00 on Friday. The firm has a market cap of $226.40 million, a P/E ratio of -3.66 and a beta of 1.93. Acrivon Therapeutics has a fifty-two week low of $3.19 and a fifty-two week high of $14.30. The firm has a 50-day simple moving average of $6.77 and a two-hundred day simple moving average of $5.37.

Acrivon Therapeutics (NASDAQ:ACRV) last announced its quarterly earnings data 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). On average, equities research analysts predict that Acrivon Therapeutics will post -3.16 EPS for the current year.

Insider Activity

In other Acrivon Therapeutics news, major shareholder Perceptive Advisors Llc purchased 2,353,000 shares of the firm’s stock in a transaction on Thursday, April 11th. The shares were acquired at an average cost of $8.50 per share, for a total transaction of $20,000,500.00. Following the completion of the transaction, the insider now owns 5,360,858 shares of the company’s stock, valued at $45,567,293. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 7.30% of the company’s stock.

Institutional Trading of Acrivon Therapeutics

An institutional investor recently raised its position in Acrivon Therapeutics stock. Exchange Traded Concepts LLC lifted its position in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,289 shares of the company’s stock after purchasing 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 Securities and Exchange Commission (SEC). 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.