Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Short Interest Down 33.7% in February

Acrivon Therapeutics, Inc. (NASDAQ:ACRV - Get Free Report) saw a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 748,700 shares, a drop of 33.7% from the February 13th total of 1,130,000 shares. Based on an average daily volume of 56,200 shares, the short-interest ratio is currently 13.3 days. Approximately 3.5% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Acrivon Therapeutics in a research report on Friday, January 31st. They issued an "overweight" rating on the stock. KeyCorp started coverage on shares of Acrivon Therapeutics in a research report on Friday, January 31st. They set an "overweight" rating on the stock. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Acrivon Therapeutics has an average rating of "Buy" and an average price target of $23.67.

Hedge Funds Weigh In On Acrivon Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. acquired a new position in Acrivon Therapeutics in the fourth quarter valued at about $40,000. Wealthedge Investment Advisors LLC bought a new position in shares of Acrivon Therapeutics in the fourth quarter worth about $65,000. Corton Capital Inc. bought a new position in shares of Acrivon Therapeutics in the fourth quarter worth about $73,000. American Century Companies Inc. raised its stake in shares of 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 raised its stake in shares of Acrivon Therapeutics by 51.2% in the third quarter. Barclays PLC now owns 33,306 shares of the company's stock worth $233,000 after acquiring an additional 11,273 shares during the last quarter. 71.62% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Acrivon Therapeutics Stock Down 2.5 %

NASDAQ:ACRV traded down $0.14 on Tuesday, reaching $5.36. The stock had a trading volume of 15,296 shares, compared to its average volume of 249,409. The company has a market capitalization of $166.89 million, a P/E ratio of -1.99 and a beta of 0.85. Acrivon Therapeutics has a 1-year low of $4.69 and a 1-year high of $11.90. The stock has a fifty day moving average price of $5.59 and a 200-day moving average price of $6.77.

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.