Short Interest in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Expands By 21.4%

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 887,100 shares, an increase of 21.4% from the March 15th total of 730,600 shares. Approximately 4.1% of the company’s stock are sold short. Based on an average daily trading volume, of 120,400 shares, the days-to-cover ratio is currently 7.4 days.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. HC Wainwright reduced their price objective on shares of Acrivon Therapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, March 26th. KeyCorp assumed coverage on Acrivon Therapeutics in a research report on Friday, January 31st. They issued an “overweight” rating for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Acrivon Therapeutics in a research note on Wednesday, March 26th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $23.17.

Institutional Trading of Acrivon Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. acquired a new stake in Acrivon Therapeutics during the 4th quarter worth about $40,000. Wealthedge Investment Advisors LLC purchased a new position in Acrivon Therapeutics during the fourth quarter valued at approximately $65,000. Corton Capital Inc. acquired a new position in Acrivon Therapeutics in the fourth quarter valued at approximately $73,000. American Century Companies Inc. increased its holdings in shares of Acrivon Therapeutics by 14.2% during the 4th quarter. American Century Companies Inc. now owns 17,588 shares of the company’s stock valued at $106,000 after purchasing an additional 2,186 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Acrivon Therapeutics by 20.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 37,063 shares of the company’s stock valued at $223,000 after purchasing an additional 6,239 shares during the period. Institutional investors and hedge funds own 71.62% of the company’s stock.

Acrivon Therapeutics Stock Performance

Shares of ACRV stock opened at $1.91 on Tuesday. Acrivon Therapeutics has a fifty-two week low of $1.30 and a fifty-two week high of $10.29. The firm has a market capitalization of $59.88 million, a PE ratio of -0.71 and a beta of 1.77. The stock’s 50-day simple moving average is $3.88 and its 200-day simple moving average is $5.77.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its quarterly earnings results on Thursday, March 27th. The company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.09. Sell-side analysts forecast that Acrivon Therapeutics will post -2.49 earnings per share for the current 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.