Acrivon Therapeutics (NASDAQ:ACRV) Price Target Increased to $30.00 by Analysts at Piper Sandler

Acrivon Therapeutics (NASDAQ:ACRV) had its price objective raised by research analysts at Piper Sandler from $26.00 to $30.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 215.79% from the company’s current price.

Several other equities analysts also recently commented on the company. BMO Capital Markets reiterated an “outperform” rating and issued a $18.00 price objective on shares of Acrivon Therapeutics in a research note on Monday, April 1st. JMP Securities reaffirmed a “market outperform” rating and issued a $14.00 price target on shares of Acrivon Therapeutics in a report on Monday, April 1st. 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 research report on Friday, April 5th. Finally, HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Acrivon Therapeutics in a research report on Thursday. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $21.38.

Acrivon Therapeutics Price Performance

Shares of Acrivon Therapeutics stock opened at $9.50 on Thursday. The firm has a market capitalization of $215.08 million, a price-to-earnings ratio of -3.48 and a beta of 1.94. Acrivon Therapeutics has a one year low of $3.19 and a one year high of $14.30. The business has a 50-day simple moving average of $6.47 and a 200 day simple moving average of $5.33.

Acrivon Therapeutics (NASDAQ:ACRV) last announced its earnings results 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, sell-side analysts expect that Acrivon Therapeutics will post -3.3 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Perceptive Advisors Llc acquired 2,353,000 shares of the stock in a transaction on Thursday, April 11th. The stock was acquired at an average cost of $8.50 per share, for a total transaction of $20,000,500.00. Following the completion of the acquisition, the insider now directly owns 5,360,858 shares of the company’s stock, valued at approximately $45,567,293. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Acrivon Therapeutics

A hedge fund recently raised its stake in Acrivon Therapeutics stock. Exchange Traded Concepts LLC boosted its stake in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,289 shares of the company’s stock after purchasing an additional 3,370 shares during the period. Exchange Traded Concepts LLC owned approximately 0.06% of Acrivon Therapeutics worth $65,000 at the end of the most recent quarter. 71.62% of the stock is owned by institutional investors and hedge funds.

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.