Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Short Interest Update

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) was the recipient of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 1,100,000 shares, a decrease of 6.0% from the January 15th total of 1,170,000 shares. Currently, 5.0% of the shares of the company are short sold. Based on an average daily volume of 60,300 shares, the days-to-cover ratio is currently 18.2 days.

Acrivon Therapeutics Stock Performance

Shares of Acrivon Therapeutics stock opened at $5.31 on Thursday. The company has a market cap of $165.35 million, a P/E ratio of -1.97 and a beta of 0.77. Acrivon Therapeutics has a one year low of $3.45 and a one year high of $11.90. The firm has a fifty day moving average of $5.96 and a two-hundred day moving average of $7.13.

Wall Street Analyst Weigh In

ACRV has been the subject of several research reports. BMO Capital Markets reduced their price target on shares of Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Thursday, November 14th. Cantor Fitzgerald initiated coverage on shares of Acrivon Therapeutics in a research report on Friday, January 31st. They set an “overweight” rating for the company. KeyCorp initiated coverage on shares of Acrivon Therapeutics in a research report on Friday, January 31st. They set an “overweight” rating for the company. Finally, HC Wainwright restated a “buy” rating and set a $22.00 price objective on shares of Acrivon Therapeutics in a research report on Thursday, November 14th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $23.67.

Hedge Funds Weigh In On Acrivon Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Acorn Capital Advisors LLC acquired a new position in shares of Acrivon Therapeutics during the 4th quarter worth $2,440,000. State Street Corp grew its stake 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 worth $1,581,000 after purchasing an additional 47,233 shares during the period. Northern Trust Corp grew its stake in shares of Acrivon Therapeutics by 11.3% during the 4th quarter. Northern Trust Corp now owns 117,323 shares of the company’s stock worth $706,000 after purchasing an additional 11,925 shares during the period. Exome Asset Management LLC acquired a new position in shares of Acrivon Therapeutics during the 3rd quarter worth $817,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Acrivon Therapeutics by 29.7% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 102,784 shares of the company’s stock worth $619,000 after purchasing an additional 23,535 shares during the period. 71.62% of the stock is owned by institutional investors and hedge funds.

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.