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

Acrivon Therapeutics (NASDAQ:ACRV) had its price objective lifted by JMP Securities from $14.00 to $17.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price objective indicates a potential upside of 78.20% from the stock’s previous close.

A number of other equities analysts also recently commented on ACRV. Piper Sandler upped their target price on Acrivon Therapeutics from $26.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $18.00 price target on shares of Acrivon Therapeutics in a research note on Monday, April 1st. LADENBURG THALM/SH SH lowered their price objective on Acrivon Therapeutics from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $20.00 target price on shares of Acrivon Therapeutics in a research report on Thursday. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Acrivon Therapeutics has a consensus rating of “Buy” and a consensus price target of $21.75.

Acrivon Therapeutics Trading Up 0.4 %

Shares of NASDAQ:ACRV traded up $0.04 during trading on Thursday, reaching $9.54. 358,818 shares of the company traded hands, compared to its average volume of 604,056. Acrivon Therapeutics has a 52-week low of $3.19 and a 52-week high of $14.30. The business’s fifty day moving average is $6.47 and its 200-day moving average is $5.33. The firm has a market capitalization of $215.99 million, a price-to-earnings ratio of -3.45 and a beta of 1.94.

Acrivon Therapeutics (NASDAQ:ACRV) last released its quarterly earnings data on Thursday, March 28th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.14). On average, sell-side analysts predict that Acrivon Therapeutics will post -3.3 earnings per share for the current fiscal year.

Insider Transactions at Acrivon Therapeutics

In other Acrivon Therapeutics news, major shareholder Perceptive Advisors Llc purchased 2,353,000 shares of the firm’s stock in a transaction dated Thursday, April 11th. The shares were purchased at an average cost of $8.50 per share, with a total value of $20,000,500.00. Following the completion of the purchase, 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 SEC, which is accessible through the SEC website. 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 lifted its stake in shares of Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,289 shares of the company’s stock after acquiring an additional 3,370 shares during the period. Exchange Traded Concepts LLC owned 0.06% of Acrivon Therapeutics worth $65,000 as of its most recent filing with the Securities & Exchange Commission. 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.