Acrivon Therapeutics, Inc. to Post Q1 2024 Earnings of ($0.89) Per Share, HC Wainwright Forecasts (NASDAQ:ACRV)

Acrivon Therapeutics, Inc. (NASDAQ:ACRVFree Report) – HC Wainwright cut their Q1 2024 earnings estimates for shares of Acrivon Therapeutics in a research note issued on Tuesday, April 9th. HC Wainwright analyst E. Bodnar now expects that the company will post earnings of ($0.89) per share for the quarter, down from their previous forecast of ($0.88). HC Wainwright currently has a “Buy” rating and a $20.00 target price on the stock. The consensus estimate for Acrivon Therapeutics’ current full-year earnings is ($3.51) per share. HC Wainwright also issued estimates for Acrivon Therapeutics’ Q2 2024 earnings at ($0.58) EPS, Q3 2024 earnings at ($0.57) EPS, Q4 2024 earnings at ($0.59) EPS, FY2024 earnings at ($2.63) EPS, FY2025 earnings at ($3.18) EPS, FY2026 earnings at ($3.00) EPS, FY2027 earnings at ($1.65) EPS and FY2028 earnings at ($1.04) EPS.

Several other equities research analysts have also commented on the stock. JMP Securities reissued a “market outperform” rating and issued a $14.00 price target on shares of Acrivon Therapeutics in a report on Monday, April 1st. BMO Capital Markets reaffirmed an “outperform” rating and set a $18.00 target price on shares of Acrivon Therapeutics in a research note on Monday, April 1st. Finally, LADENBURG THALM/SH SH lowered their price target on shares of Acrivon Therapeutics from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Acrivon Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $20.14.

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Acrivon Therapeutics Stock Performance

Shares of NASDAQ ACRV opened at $9.29 on Friday. The firm has a market cap of $210.33 million, a PE ratio of -3.40 and a beta of 1.94. The firm has a fifty day moving average of $5.36 and a 200 day moving average of $5.29. Acrivon Therapeutics has a one year low of $3.19 and a one year high of $14.30.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Exchange Traded Concepts LLC lifted its position in Acrivon Therapeutics by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 13,289 shares of the company’s stock valued at $65,000 after buying an additional 3,370 shares during the last quarter. Bridgeway Capital Management LLC purchased a new stake in Acrivon Therapeutics during the fourth quarter worth about $157,000. Nuveen Asset Management LLC purchased a new stake in Acrivon Therapeutics during the second quarter worth about $153,000. Barclays PLC increased its stake in Acrivon Therapeutics by 73.6% during the fourth quarter. Barclays PLC now owns 24,484 shares of the company’s stock worth $121,000 after purchasing an additional 10,384 shares during the period. Finally, JPMorgan Chase & Co. purchased a new stake in Acrivon Therapeutics during the first quarter worth about $84,000. Institutional investors and hedge funds own 71.62% of the company’s stock.

Acrivon Therapeutics Company Profile

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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.

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