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

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) saw a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 7,521,144 shares, a growth of 41.2% from the December 31st total of 5,325,324 shares. Based on an average daily volume of 5,799,928 shares, the short-interest ratio is presently 1.3 days. Currently, 26.0% of the company’s stock are sold short. Currently, 26.0% of the company’s stock are sold short. Based on an average daily volume of 5,799,928 shares, the short-interest ratio is presently 1.3 days.

Acrivon Therapeutics Trading Down 4.8%

Shares of NASDAQ:ACRV opened at $1.79 on Monday. Acrivon Therapeutics has a 12-month low of $1.05 and a 12-month high of $8.00. The company has a market capitalization of $56.49 million, a PE ratio of -0.84 and a beta of 1.74. The business has a 50 day moving average of $2.25 and a two-hundred day moving average of $1.87.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.10. Equities research analysts predict that Acrivon Therapeutics will post -2.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Peter Blume-Jensen purchased 49,000 shares of the firm’s stock in a transaction on Wednesday, January 14th. The stock was acquired at an average cost of $1.68 per share, with a total value of $82,320.00. Following the completion of the transaction, the chief executive officer owned 2,095,771 shares in the company, valued at $3,520,895.28. This represents a 2.39% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have bought 67,832 shares of company stock valued at $114,534 in the last ninety days. Insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ACRV. UBS Group AG lifted its stake in shares of Acrivon Therapeutics by 150,057.8% in the third quarter. UBS Group AG now owns 683,218 shares of the company’s stock worth $1,237,000 after buying an additional 682,763 shares in the last quarter. Two Sigma Investments LP raised its holdings in Acrivon Therapeutics by 76.2% in the 3rd quarter. Two Sigma Investments LP now owns 319,205 shares of the company’s stock valued at $578,000 after acquiring an additional 138,033 shares during the last quarter. Jane Street Group LLC purchased a new position in Acrivon Therapeutics in the 2nd quarter worth approximately $371,000. XTX Topco Ltd acquired a new position in shares of Acrivon Therapeutics during the 2nd quarter worth approximately $126,000. Finally, Algert Global LLC purchased a new stake in shares of Acrivon Therapeutics in the third quarter valued at approximately $81,000. 71.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ACRV has been the topic of several recent analyst reports. Piper Sandler upped their price objective on shares of Acrivon Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Friday, January 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Acrivon Therapeutics in a research note on Monday, December 29th. Wall Street Zen cut shares of Acrivon Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Finally, HC Wainwright reissued a “buy” rating and set a $19.00 price objective on shares of Acrivon Therapeutics in a report on Tuesday, November 25th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.67.

About Acrivon Therapeutics

Acrivon Therapeutics (NASDAQ:ACRV) is a clinical-stage biotechnology company focused on the discovery and development of stapled peptide therapeutics for the treatment of RAS-driven cancers. Its proprietary platform is designed to enhance the stability, cell permeability and target specificity of peptide molecules, enabling the disruption of protein–protein interactions that are traditionally challenging to inhibit with small-molecule drugs or biologics.

The company’s lead development candidate is a hydrocarbon-stapled peptide selectively targeting the KRAS G12C mutation, currently in early clinical trials.