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

Acrivon Therapeutics, Inc. (NASDAQ:ACRV - Get Free Report) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 1,210,000 shares, a decline of 5.5% from the September 15th total of 1,280,000 shares. Based on an average daily volume of 93,600 shares, the days-to-cover ratio is currently 12.9 days. Approximately 5.6% of the company's shares are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ACRV. Perceptive Advisors LLC grew its stake in Acrivon Therapeutics by 78.2% during the 2nd quarter. Perceptive Advisors LLC now owns 5,360,858 shares of the company's stock worth $31,093,000 after purchasing an additional 2,353,000 shares in the last quarter. Sands Capital Ventures LLC grew its stake in 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 purchasing an additional 470,000 shares in the last quarter. Marshall Wace LLP grew its stake in 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 purchasing an additional 351,397 shares in the last quarter. Baker BROS. Advisors LP acquired a new position in Acrivon Therapeutics during the 1st quarter worth $378,000. Finally, Vanguard Group Inc. grew its stake in Acrivon Therapeutics by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 507,185 shares of the company's stock worth $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.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Piper Sandler Companies restated a "buy" rating and issued a $30.00 target price on shares of Acrivon Therapeutics in a research report on Friday, September 6th. BMO Capital Markets restated an "outperform" rating and issued a $28.00 target price (up previously from $25.00) on shares of Acrivon Therapeutics in a research report on Monday, September 16th. LADENBURG THALM/SH SH upgraded Acrivon Therapeutics from a "neutral" rating to a "buy" rating and set a $16.00 target price on the stock in a research report on Monday, September 16th. HC Wainwright restated a "buy" rating and issued a $22.00 target price on shares of Acrivon Therapeutics in a research report on Monday, September 16th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $17.00 price objective on shares of Acrivon Therapeutics in a report on Monday, September 16th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $23.83.

Acrivon Therapeutics Price Performance

Shares of ACRV stock traded up $0.12 on Thursday, hitting $7.87. The stock had a trading volume of 55,071 shares, compared to its average volume of 307,883. The firm has a market capitalization of $243.00 million, a P/E ratio of -2.73 and a beta of 0.78. Acrivon Therapeutics has a 1 year low of $3.19 and a 1 year high of $11.90. The company's 50 day moving average price is $7.96 and its 200-day moving average price is $7.89.

Acrivon Therapeutics (NASDAQ:ACRV - Get Free Report) last released its earnings results on Tuesday, August 13th. The company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.60) by $0.08. On average, equities analysts forecast that Acrivon Therapeutics will post -2.4 EPS for the current year.

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.