Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Short Interest Up 24.3% in September

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) saw a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 1,280,000 shares, an increase of 24.3% from the August 31st total of 1,030,000 shares. Currently, 5.9% of the shares of the company are sold short. Based on an average daily trading volume, of 101,600 shares, the days-to-cover ratio is currently 12.6 days.

Hedge Funds Weigh In On Acrivon Therapeutics

Several hedge funds have recently made changes to their positions in ACRV. American International Group Inc. boosted its holdings in Acrivon Therapeutics by 39.2% during the first quarter. American International Group Inc. now owns 6,016 shares of the company’s stock worth $43,000 after buying an additional 1,695 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Acrivon Therapeutics during the 2nd quarter valued at $58,000. XTX Topco Ltd bought a new stake in shares of Acrivon Therapeutics during the 2nd quarter worth $61,000. Rhumbline Advisers boosted its stake in shares of Acrivon Therapeutics by 48.9% during the 2nd quarter. Rhumbline Advisers now owns 16,209 shares of the company’s stock worth $94,000 after acquiring an additional 5,320 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Acrivon Therapeutics by 50.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company’s stock worth $212,000 after acquiring an additional 12,219 shares during the last quarter. Institutional investors and hedge funds own 71.62% of the company’s stock.

Acrivon Therapeutics Trading Down 1.4 %

Acrivon Therapeutics stock opened at $7.16 on Friday. The stock has a market cap of $221.08 million, a price-to-earnings ratio of -2.49 and a beta of 0.81. The company’s 50-day moving average price is $8.14 and its two-hundred day moving average price is $7.78. Acrivon Therapeutics has a 52 week low of $3.19 and a 52 week high of $11.90.

Acrivon Therapeutics (NASDAQ:ACRV) last released its earnings results on Tuesday, August 13th. The company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.08. Research analysts expect that Acrivon Therapeutics will post -2.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

ACRV has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating and issued a $22.00 price target on shares of Acrivon Therapeutics in a research report on Monday, September 16th. Piper Sandler Companies reiterated a “buy” rating and issued a $30.00 price objective on shares of Acrivon Therapeutics in a research report on Friday, September 6th. BMO Capital Markets reiterated an “outperform” rating and issued a $28.00 price objective (up from $25.00) on shares of Acrivon Therapeutics in a research report on Monday, September 16th. LADENBURG THALM/SH SH upgraded shares of Acrivon Therapeutics from a “neutral” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Monday, September 16th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $17.00 price objective on shares of Acrivon Therapeutics in a research report on Monday, September 16th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Acrivon Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $23.86.

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.