LADENBURG THALM/SH SH Lowers Acrivon Therapeutics (NASDAQ:ACRV) to Neutral

Acrivon Therapeutics (NASDAQ:ACRV) was downgraded by equities research analysts at LADENBURG THALM/SH SH from a “buy” rating to a “neutral” rating in a report released on Monday, Briefing.com reports.

Several other analysts have also weighed in on the company. HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of Acrivon Therapeutics in a report on Thursday. Piper Sandler lifted their price objective on Acrivon Therapeutics from $26.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday. JMP Securities lifted their price objective on Acrivon Therapeutics from $14.00 to $17.00 and gave the stock a “market outperform” rating in a report on Thursday. Finally, BMO Capital Markets boosted their price target on Acrivon Therapeutics from $18.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.63.

Acrivon Therapeutics Stock Performance

Shares of NASDAQ ACRV opened at $8.46 on Monday. The firm has a market cap of $191.53 million, a price-to-earnings ratio of -3.10 and a beta of 1.94. The business’s 50-day simple moving average is $6.65 and its 200-day simple moving average is $5.35. Acrivon Therapeutics has a 52 week low of $3.19 and a 52 week high of $14.30.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its quarterly earnings data on Thursday, March 28th. The company reported ($0.86) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.14). As a group, equities research analysts forecast that Acrivon Therapeutics will post -3.16 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Perceptive Advisors Llc acquired 2,353,000 shares of Acrivon Therapeutics stock in a transaction dated Thursday, April 11th. The stock was bought at an average cost of $8.50 per share, with a total value of $20,000,500.00. Following the completion of the transaction, the insider now directly owns 5,360,858 shares of the company’s stock, valued at $45,567,293. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Acrivon Therapeutics stock. Exchange Traded Concepts LLC raised its holdings in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) by 34.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 about 0.06% of Acrivon Therapeutics worth $65,000 at the end of the most recent quarter. Hedge funds and other institutional investors 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.