BMO Capital Markets Reaffirms “Outperform” Rating for Acrivon Therapeutics (NASDAQ:ACRV)

by · The Markets Daily

BMO Capital Markets reaffirmed their outperform rating on shares of Acrivon Therapeutics (NASDAQ:ACRV – Free Report) in a report issued on Monday morning, Benzinga reports. They currently have a $28.00 price objective on the stock, up from their previous price objective of $25.00.

Several other research analysts also recently issued reports on ACRV. Piper Sandler Companies reaffirmed a buy rating and set a $30.00 price target on shares of Acrivon Therapeutics in a research note on Friday, September 6th. LADENBURG THALM/SH SH upgraded Acrivon Therapeutics from a neutral rating to a buy rating and set a $16.00 price objective for the company in a research report on Monday. Finally, HC Wainwright reiterated a buy rating and set a $22.00 price objective on shares of Acrivon Therapeutics in a research report on Monday. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of Buy and an average price target of $23.86.

Read Our Latest Research Report on Acrivon Therapeutics

Acrivon Therapeutics Stock Up 0.4 %

NASDAQ:ACRV opened at $7.59 on Monday. The company has a market capitalization of $234.36 million, a PE ratio of -2.65 and a beta of 0.81. Acrivon Therapeutics has a 52-week low of $3.19 and a 52-week high of $11.90. The stock has a fifty day simple moving average of $8.19 and a 200-day simple moving average of $7.68.

Acrivon Therapeutics (NASDAQ:ACRV – Get Free Report) 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 analysts anticipate that Acrivon Therapeutics will post -2.4 earnings per share for the current year.

Institutional Trading of Acrivon Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American International Group Inc. grew its holdings 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 buying an additional 1,695 shares during the period. Vanguard Group Inc. grew its holdings in Acrivon Therapeutics by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 507,185 shares of the company’s stock valued at $3,626,000 after buying an additional 31,208 shares during the period. Baker BROS. Advisors LP purchased a new stake in Acrivon Therapeutics in the 1st quarter valued at about $378,000. Dimensional Fund Advisors LP purchased a new stake in Acrivon Therapeutics in the 2nd quarter valued at about $58,000. Finally, XTX Topco Ltd purchased a new stake in Acrivon Therapeutics in the 2nd quarter valued at about $61,000. Hedge funds and other institutional investors own 71.62% of the company’s stock.

About Acrivon Therapeutics

(Get Free Report)

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.

See Also