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

Acrivon Therapeutics, Inc. (NASDAQ:ACRV - Get Free Report) saw a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 1,110,000 shares, a decline of 8.3% from the September 30th total of 1,210,000 shares. Currently, 5.1% of the shares of the stock are sold short. Based on an average trading volume of 90,900 shares, the short-interest ratio is currently 12.2 days.

Institutional Investors Weigh In On Acrivon Therapeutics

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted 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 worth $3,626,000 after purchasing an additional 31,208 shares during the period. American International Group Inc. boosted its position in shares of Acrivon Therapeutics by 39.2% during the first quarter. American International Group Inc. now owns 6,016 shares of the company's stock worth $43,000 after buying an additional 1,695 shares during the period. Baker BROS. Advisors LP bought a new position in shares of Acrivon Therapeutics during the first quarter worth about $378,000. Bank of New York Mellon Corp raised its position in Acrivon Therapeutics by 50.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company's stock valued at $212,000 after buying an additional 12,219 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in Acrivon Therapeutics by 48.9% in the 2nd quarter. Rhumbline Advisers now owns 16,209 shares of the company's stock valued at $94,000 after acquiring an additional 5,320 shares in the last quarter. Institutional investors own 71.62% of the company's stock.

Acrivon Therapeutics Trading Up 1.0 %

Shares of ACRV stock traded up $0.08 on Wednesday, reaching $8.35. The company had a trading volume of 26,495 shares, compared to its average volume of 296,582. The stock has a market cap of $257.82 million, a PE ratio of -2.90 and a beta of 0.78. The company has a 50-day moving average of $8.00 and a 200-day moving average of $7.90. Acrivon Therapeutics has a 12 month low of $3.19 and a 12 month high of $11.90.

Acrivon Therapeutics (NASDAQ:ACRV - Get Free Report) last posted its earnings results on Tuesday, August 13th. The company reported ($0.52) earnings per share for the quarter, topping the consensus estimate of ($0.60) by $0.08. Sell-side analysts anticipate that Acrivon Therapeutics will post -2.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ACRV has been the subject of a number of research reports. BMO Capital Markets reissued an "outperform" rating and issued a $28.00 price target (up previously from $25.00) on shares of Acrivon Therapeutics in a report on Monday, September 16th. LADENBURG THALM/SH SH raised Acrivon Therapeutics from a "neutral" rating to a "buy" rating and set a $16.00 target price for the company in a research note on Monday, September 16th. Piper Sandler Companies reaffirmed a "buy" rating and set a $30.00 price target on shares of Acrivon Therapeutics in a research note on Friday, September 6th. HC Wainwright reissued a "buy" rating and set a $22.00 price objective on shares of Acrivon Therapeutics in a report on Monday, September 16th. Finally, JMP Securities reissued a "market outperform" rating and set a $17.00 price target on shares of Acrivon Therapeutics in a research note on Monday, September 16th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $23.83.

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.