Short Interest in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Increases By 6.3%

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,180,000 shares, a growth of 6.3% from the December 15th total of 1,110,000 shares. Approximately 5.4% of the company’s shares are short sold. Based on an average trading volume of 56,600 shares, the days-to-cover ratio is presently 20.8 days.

Analyst Ratings Changes

A number of analysts have commented on ACRV shares. BMO Capital Markets cut their price target on shares of Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, November 14th. HC Wainwright reissued a “buy” rating and set a $22.00 price objective on shares of Acrivon Therapeutics in a research report on Thursday, November 14th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $23.67.

Hedge Funds Weigh In On Acrivon Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Perceptive Advisors LLC lifted its position in Acrivon Therapeutics by 78.2% in the 2nd quarter. Perceptive Advisors LLC now owns 5,360,858 shares of the company’s stock valued at $31,093,000 after acquiring an additional 2,353,000 shares in the last quarter. Sands Capital Ventures LLC lifted its position in Acrivon Therapeutics by 28.4% in the 2nd quarter. Sands Capital Ventures LLC now owns 2,122,605 shares of the company’s stock valued at $12,311,000 after acquiring an additional 470,000 shares in the last quarter. Marshall Wace LLP lifted its position in Acrivon Therapeutics by 58.8% in the 2nd quarter. Marshall Wace LLP now owns 948,866 shares of the company’s stock valued at $5,503,000 after acquiring an additional 351,397 shares in the last quarter. State Street Corp lifted its position in Acrivon Therapeutics by 26.4% in the 3rd quarter. State Street Corp now owns 225,896 shares of the company’s stock valued at $1,581,000 after acquiring an additional 47,233 shares in the last quarter. Finally, Exome Asset Management LLC bought a new position in Acrivon Therapeutics in the 3rd quarter valued at about $817,000. Institutional investors own 71.62% of the company’s stock.

Acrivon Therapeutics Price Performance

ACRV stock opened at $5.78 on Friday. Acrivon Therapeutics has a 1 year low of $3.19 and a 1 year high of $11.90. The stock has a market capitalization of $179.99 million, a PE ratio of -2.14 and a beta of 0.77. The company’s 50-day moving average is $6.64 and its 200-day moving average is $7.44.

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.