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

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

Acrivon Therapeutics Stock Up 2.7%

Shares of ACRV stock opened at $1.91 on Monday. Acrivon Therapeutics has a fifty-two week low of $1.05 and a fifty-two week high of $8.74. The firm’s 50 day moving average price is $1.46 and its two-hundred day moving average price is $1.51. The stock has a market cap of $60.08 million, a price-to-earnings ratio of -0.85 and a beta of 1.80.

Acrivon Therapeutics (NASDAQ:ACRV) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($0.55) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.02. On average, equities analysts forecast that Acrivon Therapeutics will post -2.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Oppenheimer reduced their price target on shares of Acrivon Therapeutics from $9.00 to $8.00 and set an “outperform” rating on the stock in a report on Thursday, August 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Acrivon Therapeutics in a research note on Saturday, September 27th. One 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd acquired a new position in shares of Acrivon Therapeutics during the second quarter worth about $26,000. Nuveen LLC purchased a new stake in shares of Acrivon Therapeutics during the 1st quarter valued at about $27,000. Invesco Ltd. acquired a new position in Acrivon Therapeutics during the 1st quarter worth approximately $72,000. Wealthedge Investment Advisors LLC boosted its holdings in Acrivon Therapeutics by 420.1% in the 1st quarter. Wealthedge Investment Advisors LLC now owns 56,467 shares of the company’s stock worth $115,000 after acquiring an additional 45,610 shares during the period. Finally, XTX Topco Ltd purchased a new position in Acrivon Therapeutics in the 2nd quarter worth approximately $126,000. 71.62% of the stock is owned by hedge funds and other institutional investors.

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.