Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Sees Significant Growth in Short Interest

Acrivon Therapeutics, Inc. (NASDAQ:ACRV - Get Free Report) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 1,180,000 shares, an increase of 6.3% from the December 15th total of 1,110,000 shares. Approximately 5.4% of the shares of the company are short sold. Based on an average daily trading volume, of 56,600 shares, the short-interest ratio is presently 20.8 days.

Analysts Set New Price Targets

Several research analysts recently commented on ACRV shares. BMO Capital Markets dropped their target price on shares of Acrivon Therapeutics from $28.00 to $27.00 and set an "outperform" rating on the stock in a report on Thursday, November 14th. HC Wainwright restated a "buy" rating and set a $22.00 target price on shares of Acrivon Therapeutics in a research note on Thursday, November 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Acrivon Therapeutics has an average rating of "Buy" and an average price target of $23.67.

Acrivon Therapeutics Trading Up 4.1 %

ACRV stock traded up $0.23 during trading on Friday, reaching $5.78. 79,300 shares of the stock were exchanged, compared to its average volume of 46,868. Acrivon Therapeutics has a twelve month low of $3.19 and a twelve month high of $11.90. The company has a market capitalization of $179.97 million, a P/E ratio of -2.14 and a beta of 0.77. The stock has a 50 day simple moving average of $6.64 and a 200-day simple moving average of $7.45.

Institutional Trading of Acrivon Therapeutics

Several institutional investors have recently modified their holdings of ACRV. JPMorgan Chase & Co. lifted its holdings in shares of Acrivon Therapeutics by 548.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,991 shares of the company's stock worth $238,000 after acquiring an additional 28,748 shares during the period. Exome Asset Management LLC bought a new position in Acrivon Therapeutics during the third quarter worth about $817,000. Barclays PLC lifted its stake in 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 during the period. State Street Corp boosted its holdings in Acrivon Therapeutics by 26.4% during the third quarter. State Street Corp now owns 225,896 shares of the company's stock valued at $1,581,000 after purchasing an additional 47,233 shares in the last quarter. Finally, Perceptive Advisors LLC grew its stake in shares of Acrivon Therapeutics by 78.2% in the 2nd 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. Institutional investors and hedge funds own 71.62% of the company's stock.

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.