Weiss Ratings Reiterates Sell (E+) Rating for Acrivon Therapeutics (NASDAQ:ACRV)

Acrivon Therapeutics (NASDAQ:ACRV)‘s stock had its “sell (e+)” rating restated by equities research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Separately, Oppenheimer reduced their price objective on Acrivon Therapeutics from $9.00 to $8.00 and set an “outperform” rating for the company in a research note on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Acrivon Therapeutics Stock Performance

NASDAQ ACRV opened at $1.96 on Wednesday. The stock has a 50-day simple moving average of $1.50 and a two-hundred day simple moving average of $1.47. The firm has a market capitalization of $61.66 million, a P/E ratio of -0.87 and a beta of 1.80. Acrivon Therapeutics has a fifty-two week low of $1.05 and a fifty-two week high of $8.74.

Acrivon Therapeutics (NASDAQ:ACRV) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($0.55) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.02. As a group, analysts forecast that Acrivon Therapeutics will post -2.49 earnings per share for the current year.

Hedge Funds Weigh In On Acrivon Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Nuveen LLC purchased a new position in shares of Acrivon Therapeutics in the 1st quarter valued at about $27,000. Quadrature Capital Ltd purchased a new stake in Acrivon Therapeutics during the 2nd quarter worth approximately $26,000. Invesco Ltd. purchased a new stake in Acrivon Therapeutics during the 1st quarter worth approximately $72,000. Wealthedge Investment Advisors LLC increased its stake in Acrivon Therapeutics by 420.1% during the 1st quarter. Wealthedge Investment Advisors LLC now owns 56,467 shares of the company’s stock worth $115,000 after buying an additional 45,610 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Acrivon Therapeutics during the 2nd quarter worth approximately $126,000. Hedge funds and other institutional investors own 71.62% of the company’s stock.

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.