Short Interest in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Increases By 6.3%

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) was the target of a significant increase in short interest in 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 stock are sold short. Based on an average daily volume of 56,600 shares, the short-interest ratio is currently 20.8 days.

Acrivon Therapeutics Stock Up 4.1 %

NASDAQ ACRV opened at $5.78 on Friday. The company has a market capitalization of $179.99 million, a price-to-earnings ratio of -2.14 and a beta of 0.77. Acrivon Therapeutics has a twelve month low of $3.19 and a twelve month high of $11.90. The stock has a fifty day simple moving average of $6.64 and a 200 day simple moving average of $7.44.

Institutional Trading of Acrivon Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP acquired a new stake in Acrivon Therapeutics in the second quarter valued at $58,000. XTX Topco Ltd acquired a new stake in Acrivon Therapeutics in the second quarter valued at $61,000. Rhumbline Advisers increased 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 purchasing an additional 5,320 shares during the period. Bank of New York Mellon Corp boosted its position in Acrivon Therapeutics by 50.1% during the second quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company’s stock valued at $212,000 after acquiring an additional 12,219 shares during the last quarter. Finally, Barclays PLC boosted its position in Acrivon Therapeutics by 51.2% during the third quarter. Barclays PLC now owns 33,306 shares of the company’s stock valued at $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.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ACRV shares. HC Wainwright restated a “buy” rating and set a $22.00 price objective on shares of Acrivon Therapeutics in a research report on Thursday, November 14th. BMO Capital Markets lowered their price objective on shares of Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Thursday, November 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Acrivon Therapeutics has a consensus rating of “Buy” and a consensus target price of $23.67.

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.