Acrivon Therapeutics, Inc. (NASDAQ:ACRV – Get Free Report) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 533,000 shares, an increase of 10.1% from the March 15th total of 484,000 shares. Based on an average daily volume of 661,100 shares, the short-interest ratio is presently 0.8 days. Approximately 4.4% of the company’s shares are sold short.
Insiders Place Their Bets
In other news, major shareholder Perceptive Advisors Llc bought 2,353,000 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were bought at an average cost of $8.50 per share, for a total transaction of $20,000,500.00. Following the completion of the acquisition, the insider now owns 5,360,858 shares in the company, valued at approximately $45,567,293. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 7.30% of the company’s stock.
Hedge Funds Weigh In On Acrivon Therapeutics
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Acrivon Therapeutics by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 475,977 shares of the company’s stock worth $2,342,000 after purchasing an additional 7,570 shares in the last quarter. Barclays PLC increased its position in Acrivon Therapeutics by 73.6% during the 4th quarter. Barclays PLC now owns 24,484 shares of the company’s stock worth $121,000 after purchasing an additional 10,384 shares in the last quarter. Bridgeway Capital Management LLC acquired a new position in Acrivon Therapeutics during the 4th quarter worth approximately $157,000. Northern Trust Corp increased its position in Acrivon Therapeutics by 10.2% during the 4th quarter. Northern Trust Corp now owns 80,149 shares of the company’s stock worth $394,000 after purchasing an additional 7,427 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its position in Acrivon Therapeutics by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 13,289 shares of the company’s stock worth $65,000 after purchasing an additional 3,370 shares in the last quarter. 71.62% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Read Our Latest Report on ACRV
Acrivon Therapeutics Trading Down 3.8 %
Shares of Acrivon Therapeutics stock opened at $9.61 on Tuesday. The company has a 50 day moving average of $5.60 and a 200-day moving average of $5.24. Acrivon Therapeutics has a 1-year low of $3.19 and a 1-year high of $14.30. The company has a market cap of $217.57 million, a PE ratio of -3.52 and a beta of 1.93.
About Acrivon Therapeutics
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.
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