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

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 561,800 shares, a decrease of 20.7% from the August 15th total of 708,400 shares. Based on an average trading volume of 1,250,000 shares, the days-to-cover ratio is presently 0.4 days. Approximately 2.5% of the shares of the stock are sold short. Approximately 2.5% of the shares of the stock are sold short. Based on an average trading volume of 1,250,000 shares, the days-to-cover ratio is presently 0.4 days.

Acrivon Therapeutics Price Performance

Acrivon Therapeutics stock opened at $1.63 on Friday. Acrivon Therapeutics has a 1-year low of $1.05 and a 1-year high of $8.74. The stock has a market cap of $51.28 million, a PE ratio of -0.72 and a beta of 1.66. The stock’s fifty day moving average is $1.39 and its two-hundred day moving average is $1.82.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($0.55) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.02. On average, research analysts expect that Acrivon Therapeutics will post -2.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer reduced their target price on Acrivon Therapeutics from $9.00 to $8.00 and set an “outperform” rating for the company in a report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $15.00.

Institutional Trading of Acrivon Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC purchased a new position in shares of Acrivon Therapeutics during the second quarter worth about $371,000. XTX Topco Ltd purchased a new position in shares of Acrivon Therapeutics during the second quarter worth about $126,000. Wealthedge Investment Advisors LLC grew its holdings in shares of Acrivon Therapeutics by 420.1% during the first quarter. Wealthedge Investment Advisors LLC now owns 56,467 shares of the company’s stock worth $115,000 after buying an additional 45,610 shares during the last quarter. Invesco Ltd. purchased a new position in shares of Acrivon Therapeutics during the first quarter worth about $72,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Acrivon Therapeutics during the second quarter worth about $26,000. 71.62% of the stock is currently owned by institutional investors and hedge funds.

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.