Short Interest in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Declines By 20.7%

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 561,800 shares, a decrease of 20.7% from the August 15th total of 708,400 shares. Currently, 2.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,250,000 shares, the short-interest ratio is presently 0.4 days. Based on an average daily trading volume, of 1,250,000 shares, the short-interest ratio is presently 0.4 days. Currently, 2.5% of the shares of the stock are short sold.

Acrivon Therapeutics Price Performance

Shares of ACRV stock opened at $1.67 on Friday. The firm has a market cap of $52.54 million, a PE ratio of -0.74 and a beta of 1.66. The company has a 50-day moving average of $1.38 and a two-hundred day moving average of $1.84. Acrivon Therapeutics has a 1-year low of $1.05 and a 1-year high of $8.74.

Acrivon Therapeutics (NASDAQ:ACRV) last announced its earnings results on Wednesday, August 13th. The company reported ($0.55) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.02. Sell-side analysts anticipate that Acrivon Therapeutics will post -2.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Oppenheimer reduced their target price on shares of Acrivon Therapeutics from $9.00 to $8.00 and set an “outperform” rating for the company in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $15.00.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Nuveen LLC purchased a new position in shares of Acrivon Therapeutics in the first quarter valued at approximately $27,000. Northern Trust Corp boosted its stake in shares of Acrivon Therapeutics by 11.3% in the fourth quarter. Northern Trust Corp now owns 117,323 shares of the company’s stock valued at $706,000 after purchasing an additional 11,925 shares during the period. Wealthedge Investment Advisors LLC boosted its stake in shares of Acrivon Therapeutics by 420.1% in the first quarter. Wealthedge Investment Advisors LLC now owns 56,467 shares of the company’s stock valued at $115,000 after purchasing an additional 45,610 shares during the period. Jane Street Group LLC purchased a new position in shares of Acrivon Therapeutics in the second quarter valued at approximately $371,000. Finally, XTX Topco Ltd purchased a new position in shares of Acrivon Therapeutics in the second quarter valued at approximately $126,000. Hedge funds and other institutional investors own 71.62% of the company’s stock.

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.