Short Interest in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Increases By 6.3%

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) was the target of a large growth in short interest in January. As of January 15th, there was short interest totalling 1,180,000 shares, a growth of 6.3% from the December 31st total of 1,110,000 shares. Based on an average daily volume of 56,600 shares, the days-to-cover ratio is currently 20.8 days. Approximately 5.4% of the shares of the company are sold short.

Institutional Trading of Acrivon Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in ACRV. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Acrivon Therapeutics in the fourth quarter valued at about $40,000. Dimensional Fund Advisors LP bought a new position in Acrivon Therapeutics during the second quarter valued at about $58,000. Barclays PLC grew its position in Acrivon Therapeutics by 51.2% during the third quarter. Barclays PLC now owns 33,306 shares of the company’s stock valued at $233,000 after buying an additional 11,273 shares during the period. JPMorgan Chase & Co. grew its position in Acrivon Therapeutics by 548.3% during the third quarter. JPMorgan Chase & Co. now owns 33,991 shares of the company’s stock valued at $238,000 after buying an additional 28,748 shares during the period. Finally, Exome Asset Management LLC bought a new position in Acrivon Therapeutics during the third quarter valued at about $817,000. Hedge funds and other institutional investors own 71.62% of the company’s stock.

Acrivon Therapeutics Stock Up 4.8 %

Acrivon Therapeutics stock opened at $6.07 on Monday. The firm’s fifty day moving average is $6.34 and its 200 day moving average is $7.33. Acrivon Therapeutics has a 12-month low of $3.19 and a 12-month high of $11.90. The company has a market capitalization of $189.02 million, a PE ratio of -2.25 and a beta of 0.77.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ACRV. Cantor Fitzgerald began coverage on shares of Acrivon Therapeutics in a research note on Friday. They issued an “overweight” rating for the company. KeyCorp began coverage on shares of Acrivon Therapeutics in a research note on Friday. They issued an “overweight” rating for the company. BMO Capital Markets dropped their price objective on shares of Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, November 14th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $22.00 price target on shares of Acrivon Therapeutics in a report on Thursday, November 14th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $23.67.

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.