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

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

Acrivon Therapeutics Stock Performance

NASDAQ ACRV opened at $5.44 on Friday. Acrivon Therapeutics has a 52 week low of $4.69 and a 52 week high of $11.90. The stock has a market capitalization of $169.38 million, a P/E ratio of -2.01 and a beta of 0.85. The stock has a fifty day moving average of $5.62 and a 200-day moving average of $6.82.

Institutional Trading of Acrivon Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. bought a new position in shares of Acrivon Therapeutics in the 4th quarter valued at about $40,000. Wealthedge Investment Advisors LLC acquired a new position in Acrivon Therapeutics in the fourth quarter valued at approximately $65,000. Corton Capital Inc. bought a new position in Acrivon Therapeutics in the fourth quarter valued at approximately $73,000. American Century Companies Inc. grew its holdings in Acrivon Therapeutics by 14.2% during the 4th 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 period. Finally, Dimensional Fund Advisors LP raised its position in shares of Acrivon Therapeutics by 20.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 37,063 shares of the company’s stock valued at $223,000 after acquiring an additional 6,239 shares during the last quarter. 71.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on ACRV shares. KeyCorp assumed coverage on Acrivon Therapeutics in a research report on Friday, January 31st. They issued an “overweight” rating for the company. Cantor Fitzgerald assumed coverage on Acrivon Therapeutics in a research note on Friday, January 31st. They issued an “overweight” rating for the company. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target 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.