Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Short Interest Up 6.3% in December

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in shares of Acrivon Therapeutics by 50.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company’s stock worth $212,000 after purchasing an additional 12,219 shares during the period. Rhumbline Advisers boosted its holdings in Acrivon Therapeutics by 48.9% in the second quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock valued at $94,000 after acquiring an additional 5,320 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of Acrivon Therapeutics in the 2nd quarter valued at $58,000. XTX Topco Ltd acquired a new position in Acrivon Therapeutics during the second quarter valued at approximately $61,000. Finally, Sands Capital Ventures LLC raised its position in shares of Acrivon Therapeutics by 28.4% during the second 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 during the period. 71.62% of the stock is currently owned by institutional investors and hedge funds.

Acrivon Therapeutics Price Performance

NASDAQ ACRV opened at $5.78 on Monday. Acrivon Therapeutics has a fifty-two week low of $3.19 and a fifty-two week high of $11.90. The stock’s 50-day moving average is $6.64 and its two-hundred day moving average is $7.45. The firm has a market cap of $179.97 million, a P/E ratio of -2.14 and a beta of 0.77.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets cut their target price on Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, November 14th. HC Wainwright reaffirmed 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, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $23.67.

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.