Acrivon Therapeutics’ (ACRV) Buy Rating Reiterated at HC Wainwright

Acrivon Therapeutics (NASDAQ:ACRV)‘s stock had its “buy” rating restated by HC Wainwright in a report released on Thursday, Benzinga reports. They presently have a $20.00 price target on the stock. HC Wainwright’s price objective would indicate a potential upside of 179.72% from the stock’s previous close.

Separately, JMP Securities started coverage on Acrivon Therapeutics in a report on Friday, March 1st. They set a “mkt outperform” rating and a $14.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Acrivon Therapeutics presently has an average rating of “Buy” and an average target price of $22.14.

Acrivon Therapeutics Stock Performance

NASDAQ ACRV traded up $0.68 during trading hours on Thursday, hitting $7.15. The company had a trading volume of 21,751 shares, compared to its average volume of 74,955. Acrivon Therapeutics has a 52 week low of $3.19 and a 52 week high of $14.39. The firm has a 50 day simple moving average of $4.58 and a 200 day simple moving average of $5.47. The firm has a market capitalization of $158.66 million, a price-to-earnings ratio of -2.61 and a beta of 1.70.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ACRV. Marshall Wace LLP bought a new position in shares of Acrivon Therapeutics during the fourth quarter valued at $14,092,000. BlackRock Inc. purchased a new stake in Acrivon Therapeutics during the first quarter valued at $6,018,000. Geode Capital Management LLC purchased a new stake in Acrivon Therapeutics during the first quarter valued at $2,226,000. State Street Corp purchased a new stake in Acrivon Therapeutics during the first quarter valued at $1,083,000. Finally, Vanguard Group Inc. increased its position in Acrivon Therapeutics by 16.2% during the third quarter. Vanguard Group Inc. now owns 468,407 shares of the company’s stock valued at $4,478,000 after acquiring an additional 65,132 shares during the last quarter. 71.62% of the stock is owned by institutional investors.

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.