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

Acrivon Therapeutics, Inc. (NASDAQ:ACRV - Get Free Report) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 887,100 shares, a growth of 21.4% from the March 15th total of 730,600 shares. Currently, 4.1% of the company's shares are sold short. Based on an average daily volume of 120,400 shares, the short-interest ratio is presently 7.4 days.

Institutional Investors Weigh In On Acrivon Therapeutics

Several large investors have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. acquired a new position in shares of Acrivon Therapeutics in the fourth quarter worth $40,000. Wealthedge Investment Advisors LLC purchased a new stake in shares of Acrivon Therapeutics during the fourth quarter worth approximately $65,000. Corton Capital Inc. acquired a new stake in Acrivon Therapeutics in the fourth quarter valued at approximately $73,000. American Century Companies Inc. lifted its stake in Acrivon Therapeutics by 14.2% in the fourth quarter. American Century Companies Inc. now owns 17,588 shares of the company's stock worth $106,000 after acquiring an additional 2,186 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Acrivon Therapeutics by 51.2% during the third quarter. Barclays PLC now owns 33,306 shares of the company's stock worth $233,000 after purchasing an additional 11,273 shares in the last quarter. 71.62% of the stock is owned by hedge funds and other institutional investors.

Acrivon Therapeutics Stock Down 3.8 %

NASDAQ:ACRV traded down $0.08 during trading hours on Thursday, reaching $1.93. 62,055 shares of the stock were exchanged, compared to its average volume of 114,279. The business has a 50-day moving average of $3.75 and a two-hundred day moving average of $5.72. Acrivon Therapeutics has a twelve month low of $1.30 and a twelve month high of $10.29. The company has a market capitalization of $60.35 million, a price-to-earnings ratio of -0.71 and a beta of 1.77.

Acrivon Therapeutics (NASDAQ:ACRV - Get Free Report) last issued its quarterly earnings results on Thursday, March 27th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.69) by $0.09. On average, research analysts forecast that Acrivon Therapeutics will post -2.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ACRV shares. KeyCorp assumed coverage on shares of Acrivon Therapeutics in a research note on Friday, January 31st. They issued an "overweight" rating for the company. Cantor Fitzgerald reissued an "overweight" rating on shares of Acrivon Therapeutics in a research note on Wednesday, March 26th. Finally, HC Wainwright decreased their price target on Acrivon Therapeutics from $22.00 to $19.00 and set a "buy" rating on the stock in a research note on Wednesday, March 26th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $23.17.

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.