Short Interest in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Rises By 127.8%

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 1,280,000 shares, an increase of 127.8% from the August 31st total of 561,800 shares. Approximately 5.7% of the shares of the company are short sold. Based on an average daily trading volume, of 1,300,000 shares, the days-to-cover ratio is currently 1.0 days. Based on an average daily trading volume, of 1,300,000 shares, the days-to-cover ratio is currently 1.0 days. Approximately 5.7% of the shares of the company are short sold.

Institutional Investors Weigh In On Acrivon Therapeutics

A number of hedge funds have recently modified their holdings of the company. Quadrature Capital Ltd purchased a new position in Acrivon Therapeutics during the second quarter worth about $26,000. Nuveen LLC acquired a new stake in shares of Acrivon Therapeutics during the 1st quarter worth approximately $27,000. Invesco Ltd. purchased a new stake in shares of Acrivon Therapeutics during the 1st quarter valued at approximately $72,000. Wealthedge Investment Advisors LLC lifted its holdings in Acrivon Therapeutics by 420.1% in the first quarter. Wealthedge Investment Advisors LLC now owns 56,467 shares of the company’s stock valued at $115,000 after acquiring an additional 45,610 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Acrivon Therapeutics in the second quarter valued at approximately $126,000. Hedge funds and other institutional investors own 71.62% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on ACRV shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Acrivon Therapeutics in a research report on Saturday, September 27th. Oppenheimer cut their price target on Acrivon Therapeutics from $9.00 to $8.00 and set an “outperform” rating for the company in a research note on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Acrivon Therapeutics Stock Performance

NASDAQ:ACRV opened at $1.91 on Friday. Acrivon Therapeutics has a one year low of $1.05 and a one year high of $8.74. The stock has a market cap of $60.09 million, a PE ratio of -0.85 and a beta of 1.80. The stock has a 50 day moving average price of $1.46 and a 200 day moving average price of $1.54.

Acrivon Therapeutics (NASDAQ:ACRV) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.02. As a group, analysts predict that Acrivon Therapeutics will post -2.49 earnings per share for the current fiscal year.

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.