JMP Securities Raises Acrivon Therapeutics (NASDAQ:ACRV) Price Target to $17.00

Acrivon Therapeutics (NASDAQ:ACRV) had its target price boosted by JMP Securities from $14.00 to $17.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a market outperform rating on the stock.

Several other research analysts have also recently weighed in on the stock. LADENBURG THALM/SH SH decreased their price target on shares of Acrivon Therapeutics from $18.00 to $14.00 and set a buy rating on the stock in a report on Friday, April 5th. BMO Capital Markets reissued an outperform rating and issued a $18.00 target price on shares of Acrivon Therapeutics in a research note on Monday, April 1st. Piper Sandler increased their target price on Acrivon Therapeutics from $26.00 to $30.00 and gave the company an overweight rating in a research note on Thursday. Finally, HC Wainwright reissued a buy rating and issued a $20.00 target price on shares of Acrivon Therapeutics in a research note on Thursday. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of Buy and an average target price of $22.63.

Acrivon Therapeutics Stock Performance

Acrivon Therapeutics stock opened at $8.46 on Thursday. The stock has a market cap of $191.53 million, a P/E ratio of -3.10 and a beta of 1.94. Acrivon Therapeutics has a fifty-two week low of $3.19 and a fifty-two week high of $14.30. The firm’s fifty day moving average price is $6.65 and its 200-day moving average price is $5.35.

Acrivon Therapeutics (NASDAQ:ACRV) last released its quarterly 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). Sell-side analysts predict that Acrivon Therapeutics will post -3.16 earnings per share for the current year.

Insider Activity

In other news, major shareholder Perceptive Advisors Llc bought 2,353,000 shares of the company’s stock in a transaction dated Thursday, April 11th. The stock was bought 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 owns 5,360,858 shares in the company, valued at approximately $45,567,293. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 boosted its stake in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,289 shares of the company’s stock after buying an additional 3,370 shares during the period. Exchange Traded Concepts LLC owned 0.06% of Acrivon Therapeutics worth $65,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.