Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Short Interest Update

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 1,110,000 shares, a drop of 8.3% from the September 30th total of 1,210,000 shares. Currently, 5.1% of the company’s stock are short sold. Based on an average daily volume of 90,900 shares, the days-to-cover ratio is presently 12.2 days.

Wall Street Analysts Forecast Growth

ACRV has been the topic of a number of recent research reports. BMO Capital Markets reaffirmed an “outperform” rating and issued a $28.00 price objective (up from $25.00) on shares of Acrivon Therapeutics in a research note on Monday, September 16th. Piper Sandler Companies reissued a “buy” rating and issued a $30.00 price target on shares of Acrivon Therapeutics in a research report on Friday, September 6th. HC Wainwright restated a “buy” rating and set a $22.00 price objective on shares of Acrivon Therapeutics in a research note on Monday, September 16th. JMP Securities reiterated a “market outperform” rating and issued a $17.00 target price on shares of Acrivon Therapeutics in a research note on Monday, September 16th. Finally, LADENBURG THALM/SH SH raised shares of Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Monday, September 16th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $23.83.

Acrivon Therapeutics Stock Performance

ACRV opened at $8.27 on Wednesday. Acrivon Therapeutics has a fifty-two week low of $3.19 and a fifty-two week high of $11.90. The firm has a 50-day moving average of $8.02 and a 200 day moving average of $7.90. The firm has a market cap of $255.35 million, a P/E ratio of -2.87 and a beta of 0.78.

Acrivon Therapeutics (NASDAQ:ACRV) last released its earnings results on Tuesday, August 13th. The company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.08. Equities research analysts predict that Acrivon Therapeutics will post -2.4 earnings per share for the current fiscal year.

Institutional Trading of Acrivon Therapeutics

A number of large investors have recently bought and sold shares of the company. American International Group Inc. grew its stake in shares of Acrivon Therapeutics by 39.2% during the 1st quarter. American International Group Inc. now owns 6,016 shares of the company’s stock worth $43,000 after acquiring an additional 1,695 shares during the period. Dimensional Fund Advisors LP purchased a new stake in Acrivon Therapeutics during the second quarter valued at about $58,000. XTX Topco Ltd bought a new position in Acrivon Therapeutics during the second quarter worth about $61,000. Rhumbline Advisers increased its stake in shares of Acrivon Therapeutics by 48.9% in the second quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock worth $94,000 after purchasing an additional 5,320 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Acrivon Therapeutics by 50.1% in the second quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company’s stock worth $212,000 after purchasing an additional 12,219 shares in the last quarter. 71.62% of the stock is owned by hedge funds and other institutional investors.

About Acrivon Therapeutics

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.