Short Interest in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Decreases By 33.7%

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) was the target of a significant decline in short interest in February. As of February 28th, there was short interest totalling 748,700 shares, a decline of 33.7% from the February 13th total of 1,130,000 shares. Approximately 3.5% of the company’s stock are short sold. Based on an average trading volume of 56,200 shares, the short-interest ratio is currently 13.3 days.

Acrivon Therapeutics Stock Up 7.3 %

Shares of Acrivon Therapeutics stock opened at $5.44 on Friday. Acrivon Therapeutics has a twelve month low of $4.69 and a twelve month high of $11.90. The company has a market cap of $169.38 million, a price-to-earnings ratio of -2.01 and a beta of 0.85. The company’s 50 day moving average is $5.62 and its 200 day moving average is $6.83.

Wall Street Analysts Forecast Growth

ACRV has been the topic of several research reports. KeyCorp initiated coverage on shares of Acrivon Therapeutics in a research note on Friday, January 31st. They set an “overweight” rating on the stock. Cantor Fitzgerald started coverage on shares of Acrivon Therapeutics in a research note on Friday, January 31st. They set an “overweight” rating on the stock. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $23.67.

Institutional Trading of Acrivon Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACRV. Acorn Capital Advisors LLC purchased a new stake in shares of Acrivon Therapeutics in the fourth quarter worth $2,440,000. Exome Asset Management LLC bought a new position in shares of Acrivon Therapeutics during the third quarter worth $817,000. State Street Corp boosted its position in shares of Acrivon Therapeutics by 26.4% during the third quarter. State Street Corp now owns 225,896 shares of the company’s stock worth $1,581,000 after acquiring an additional 47,233 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Acrivon Therapeutics by 548.3% during the third quarter. JPMorgan Chase & Co. now owns 33,991 shares of the company’s stock worth $238,000 after acquiring an additional 28,748 shares during the last quarter. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Acrivon Therapeutics by 29.7% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 102,784 shares of the company’s stock worth $619,000 after acquiring an additional 23,535 shares during the last quarter. 71.62% of the stock is owned by hedge funds and other institutional investors.

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.