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

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) saw a large decrease in short interest in the month of January. As of January 30th, there was short interest totaling 2,024,627 shares, a decrease of 73.1% from the January 15th total of 7,521,144 shares. Approximately 7.0% of the shares of the company are sold short. Based on an average daily volume of 1,119,438 shares, the days-to-cover ratio is presently 1.8 days. Based on an average daily volume of 1,119,438 shares, the days-to-cover ratio is presently 1.8 days. Approximately 7.0% of the shares of the company are sold short.

Analyst Ratings Changes

A number of brokerages recently commented on ACRV. HC Wainwright reiterated a “buy” rating and issued a $19.00 price target on shares of Acrivon Therapeutics in a research note on Tuesday, November 25th. Wall Street Zen downgraded Acrivon Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Acrivon Therapeutics in a report on Monday, December 29th. Finally, Piper Sandler upped their price objective on Acrivon Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Friday, January 9th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Acrivon Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $11.67.

Acrivon Therapeutics Stock Down 3.8%

ACRV stock opened at $1.50 on Thursday. The firm has a market capitalization of $47.34 million, a PE ratio of -0.70 and a beta of 1.74. Acrivon Therapeutics has a twelve month low of $1.05 and a twelve month high of $6.08. The stock’s 50 day moving average is $2.14 and its 200-day moving average is $1.89.

Acrivon Therapeutics (NASDAQ:ACRV) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.10. On average, equities research analysts anticipate that Acrivon Therapeutics will post -2.49 earnings per share for the current fiscal year.

Insider Transactions at Acrivon Therapeutics

In other Acrivon Therapeutics news, CEO Peter Blume-Jensen purchased 49,000 shares of Acrivon Therapeutics stock in a transaction that occurred on Wednesday, January 14th. The stock was acquired at an average price of $1.68 per share, for a total transaction of $82,320.00. Following the completion of the acquisition, the chief executive officer owned 2,095,771 shares of the company’s stock, valued at approximately $3,520,895.28. This trade represents a 2.39% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders have bought 67,832 shares of company stock valued at $114,534. Company insiders own 11.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACRV. Goldman Sachs Group Inc. boosted its holdings in shares of Acrivon Therapeutics by 504.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 119,422 shares of the company’s stock worth $288,000 after buying an additional 99,680 shares during the last quarter. Geode Capital Management LLC raised its position in Acrivon Therapeutics by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 198,223 shares of the company’s stock worth $478,000 after acquiring an additional 6,190 shares during the period. Focus Partners Wealth purchased a new position in Acrivon Therapeutics in the third quarter valued at about $36,000. Algert Global LLC purchased a new stake in shares of Acrivon Therapeutics during the 3rd quarter worth approximately $81,000. Finally, Two Sigma Investments LP increased its stake in shares of Acrivon Therapeutics by 76.2% during the 3rd quarter. Two Sigma Investments LP now owns 319,205 shares of the company’s stock worth $578,000 after purchasing an additional 138,033 shares during the last quarter. 71.62% of the stock is currently owned by hedge funds and other institutional investors.

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.