Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Sees Significant Drop in Short Interest

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) was the target of a significant decrease in short interest in July. As of July 15th, there was short interest totaling 1,487,445 shares, a decrease of 47.6% from the June 30th total of 2,840,348 shares. Based on an average trading volume of 636,379 shares, the short-interest ratio is presently 2.3 days. Currently, 3.9% of the shares of the company are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Focus Partners Wealth acquired a new stake in shares of Acrivon Therapeutics during the third quarter worth $36,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Acrivon Therapeutics during the 4th quarter worth about $40,000. Vermillion & White Wealth Management Group LLC bought a new position in Acrivon Therapeutics in the fourth quarter worth approximately $44,000. Quadrature Capital Ltd acquired a new stake in Acrivon Therapeutics in the 4th quarter valued at $50,000. Finally, Invesco Ltd. bought a new stake in shares of Acrivon Therapeutics during the first quarter worth about $72,000. Institutional investors and hedge funds own 71.62% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Acrivon Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 15th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.67.

Acrivon Therapeutics Stock Performance

Shares of NASDAQ:ACRV traded up $0.03 during mid-day trading on Friday, reaching $1.54. 235,372 shares of the company’s stock were exchanged, compared to its average volume of 1,050,026. Acrivon Therapeutics has a twelve month low of $1.20 and a twelve month high of $3.56. The firm has a market capitalization of $66.13 million, a price-to-earnings ratio of -0.78 and a beta of 1.82. The business’s fifty day moving average price is $1.66 and its 200-day moving average price is $1.69.

Acrivon Therapeutics (NASDAQ:ACRV) last announced its earnings results on Wednesday, May 13th. The company reported ($0.49) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.49). Analysts predict that Acrivon Therapeutics will post -1.92 EPS for the current fiscal year.

Acrivon Therapeutics Company Profile

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.