Acrivon Therapeutics Inc [NASDAQ: ACRV] gained 62.77% or 3.71 points to close at $9.62 with a heavy trading volume of 38248096 shares. The company report on April 9, 2024 at 7:00 AM that Acrivon Therapeutics Announces $130 Million Private Placement Financing.
Acrivon anticipates the gross proceeds from the oversubscribed PIPE to be approximately $130 million, before deducting fees to the placement agent and other offering expenses payable by the company. The closing of the financing is expected to occur on April 11, 2024, subject to customary closing conditions.
The daily chart for ACRV points out that the company has recorded 32.69% gains over the past six months.
If we look at the average trading volume of 73.59K shares, ACRV reached to a volume of 38248096 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Acrivon Therapeutics Inc [ACRV]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ACRV shares is $19.44 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ACRV stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
JMP Securities have made an estimate for Acrivon Therapeutics Inc shares, keeping their opinion on the stock as Mkt Outperform, with their previous recommendation back on March 01, 2024. While these analysts kept the previous recommendation, Jefferies dropped their target price from $17 to $12. The new note on the price target was released on December 15, 2023, representing the official price target for Acrivon Therapeutics Inc stock.
The Average True Range (ATR) for Acrivon Therapeutics Inc is set at 1.10 The Price to Book ratio for the last quarter was 1.79, with the Price to Cash per share for the same quarter was set at 5.74.
Trading performance analysis for ACRV stock
Acrivon Therapeutics Inc [ACRV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 43.80. With this latest performance, ACRV shares gained by 94.34% in over the last four-week period, additionally plugging by 32.69% over the last 6 months – not to mention a rise of 9.44% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ACRV stock in for the last two-week period is set at 75.00, with the RSI for the last a single of trading hit 78.32, and the three-weeks RSI is set at 72.19 for Acrivon Therapeutics Inc [ACRV]. The present Moving Average for the last 50 days of trading for this stock 5.04, while it was recorded at 7.07 for the last single week of trading, and 7.36 for the last 200 days.
Acrivon Therapeutics Inc [ACRV]: A deeper dive into fundamental analysis
Acrivon Therapeutics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.75 and a Current Ratio set at 9.75.
Acrivon Therapeutics Inc [ACRV]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Acrivon Therapeutics Inc posted -0.58/share EPS, while the average EPS was predicted by analysts to be reported at -0.6/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 3.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ACRV.
An analysis of Institutional ownership at Acrivon Therapeutics Inc [ACRV]
The top three institutional holders of ACRV stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in ACRV stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in ACRV stock with ownership which is approximately 5.8386%.
