Short Interest in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Expands By 24.3%

Acrivon Therapeutics, Inc. (NASDAQ:ACRV - Get Free Report) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 1,280,000 shares, a growth of 24.3% from the August 31st total of 1,030,000 shares. Based on an average daily volume of 101,600 shares, the short-interest ratio is currently 12.6 days. Currently, 5.9% of the shares of the company are short sold.

Institutional Trading of Acrivon Therapeutics

Several hedge funds have recently modified their holdings of ACRV. Perceptive Advisors LLC lifted its stake in shares of Acrivon Therapeutics by 78.2% in the second quarter. Perceptive Advisors LLC now owns 5,360,858 shares of the company's stock valued at $31,093,000 after purchasing an additional 2,353,000 shares during the period. Sands Capital Ventures LLC boosted its stake in shares of Acrivon Therapeutics by 28.4% during 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 in the last quarter. Marshall Wace LLP boosted its stake in shares of Acrivon Therapeutics by 58.8% during the 2nd quarter. Marshall Wace LLP now owns 948,866 shares of the company's stock worth $5,503,000 after acquiring an additional 351,397 shares in the last quarter. Baker BROS. Advisors LP acquired a new stake in shares of Acrivon Therapeutics in the 1st quarter worth approximately $378,000. Finally, Vanguard Group Inc. increased its stake in Acrivon Therapeutics by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 507,185 shares of the company's stock valued at $3,626,000 after purchasing an additional 31,208 shares in the last quarter. 71.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ACRV. JMP Securities reissued a "market outperform" rating and issued a $17.00 price objective on shares of Acrivon Therapeutics in a report on Monday, September 16th. BMO Capital Markets reissued an "outperform" rating and set a $28.00 price objective (up from $25.00) on shares of Acrivon Therapeutics in a research report on Monday, September 16th. HC Wainwright restated a "buy" rating and issued a $22.00 price objective on shares of Acrivon Therapeutics in a research note on Monday, September 16th. Piper Sandler Companies reiterated a "buy" rating and set a $30.00 target price on shares of Acrivon Therapeutics in a research note on Friday, September 6th. Finally, LADENBURG THALM/SH SH raised Acrivon Therapeutics from a "neutral" rating to a "buy" rating and set a $16.00 price target on the stock in a report on Monday, September 16th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $23.86.

Acrivon Therapeutics Price Performance

Shares of ACRV stock traded down $0.10 during mid-day trading on Friday, hitting $7.16. The stock had a trading volume of 40,682 shares, compared to its average volume of 324,252. The firm has a market cap of $221.08 million, a PE ratio of -2.49 and a beta of 0.81. The company's 50-day simple moving average is $8.14 and its 200-day simple moving average is $7.80. Acrivon Therapeutics has a fifty-two week low of $3.19 and a fifty-two week high of $11.90.

Acrivon Therapeutics (NASDAQ:ACRV - Get Free Report) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.52) EPS for the quarter, beating analysts' consensus estimates of ($0.60) by $0.08. On average, analysts expect that Acrivon Therapeutics will post -2.4 EPS for the current year.

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.