Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Short Interest Up 6.3% in December

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ACRV. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 target price on shares of Acrivon Therapeutics in a report on Thursday, November 14th. BMO Capital Markets dropped their price objective on Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, November 14th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $23.67.

Acrivon Therapeutics Stock Up 4.1 %

Acrivon Therapeutics stock opened at $5.78 on Tuesday. The company’s 50-day moving average price is $6.59 and its two-hundred day moving average price is $7.45. The stock has a market cap of $179.99 million, a P/E ratio of -2.14 and a beta of 0.77. Acrivon Therapeutics has a twelve month low of $3.19 and a twelve month high of $11.90.

Hedge Funds Weigh In On Acrivon Therapeutics

Large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP bought a new position in Acrivon Therapeutics during the 2nd quarter worth $58,000. XTX Topco Ltd bought a new stake in shares of Acrivon Therapeutics during the 2nd quarter worth approximately $61,000. Rhumbline Advisers boosted its holdings in shares of Acrivon Therapeutics by 48.9% in the 2nd quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock valued at $94,000 after purchasing an additional 5,320 shares in the last quarter. Bank of New York Mellon Corp grew its position in 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 valued at $212,000 after acquiring an additional 12,219 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of Acrivon Therapeutics by 51.2% in the third quarter. Barclays PLC now owns 33,306 shares of the company’s stock worth $233,000 after acquiring an additional 11,273 shares during the last quarter. Institutional investors own 71.62% of the company’s stock.

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.