Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Sees Large Growth in Short Interest

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. 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. BMO Capital Markets cut their target price on Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, November 14th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Acrivon Therapeutics currently has an average rating of “Buy” and an average price target of $23.67.

Hedge Funds Weigh In On Acrivon Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Perceptive Advisors LLC increased its holdings in Acrivon Therapeutics by 78.2% during the second quarter. Perceptive Advisors LLC now owns 5,360,858 shares of the company’s stock worth $31,093,000 after buying an additional 2,353,000 shares during the last quarter. Sands Capital Ventures LLC increased its stake in Acrivon Therapeutics by 28.4% in the 2nd quarter. Sands Capital Ventures LLC now owns 2,122,605 shares of the company’s stock worth $12,311,000 after acquiring an additional 470,000 shares during the last quarter. Marshall Wace LLP lifted its position in Acrivon Therapeutics by 58.8% during the second quarter. Marshall Wace LLP now owns 948,866 shares of the company’s stock valued at $5,503,000 after purchasing an additional 351,397 shares during the last quarter. Exome Asset Management LLC bought a new position in Acrivon Therapeutics in the third quarter valued at $817,000. Finally, State Street Corp raised its holdings in shares of Acrivon Therapeutics by 26.4% during the 3rd quarter. State Street Corp now owns 225,896 shares of the company’s stock valued at $1,581,000 after buying an additional 47,233 shares in the last quarter. Hedge funds and other institutional investors own 71.62% of the company’s stock.

Acrivon Therapeutics Stock Performance

Shares of ACRV opened at $5.78 on Monday. The firm has a market capitalization of $179.97 million, a P/E ratio of -2.14 and a beta of 0.77. Acrivon Therapeutics has a 52 week low of $3.19 and a 52 week high of $11.90. The stock has a 50 day moving average price of $6.64 and a two-hundred day moving average price of $7.45.

About Acrivon Therapeutics

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.