Acrivon Therapeutics (NASDAQ:ACRV) Issues Earnings Results, Beats Expectations By $0.08 EPS

Acrivon Therapeutics (NASDAQ:ACRV) released its quarterly earnings data on Tuesday. The company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.08, Yahoo Finance reports.

Acrivon Therapeutics Stock Performance

Acrivon Therapeutics stock traded down $0.05 on Wednesday, reaching $7.20. The company’s stock had a trading volume of 7,553 shares, compared to its average volume of 365,938. The company has a market cap of $222.31 million, a price-to-earnings ratio of -2.52 and a beta of 0.79. Acrivon Therapeutics has a twelve month low of $3.19 and a twelve month high of $12.70. The business’s fifty day moving average price is $7.21 and its 200 day moving average price is $6.86.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ACRV shares. BMO Capital Markets reissued an “outperform” rating and issued a $25.00 target price on shares of Acrivon Therapeutics in a research report on Wednesday, May 15th. HC Wainwright reiterated a “buy” rating and issued a $22.00 price target on shares of Acrivon Therapeutics in a research note on Tuesday. LADENBURG THALM/SH SH lowered shares of Acrivon Therapeutics from a “buy” rating to a “neutral” rating in a research note on Monday, April 29th. Piper Sandler upped their price target on shares of Acrivon Therapeutics from $26.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Finally, JMP Securities raised their target price on Acrivon Therapeutics from $14.00 to $17.00 and gave the company a “market outperform” rating in a research report on Thursday, April 25th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Acrivon Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $22.57.

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.