Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Short Interest Down 47.6% in July

Key Points

• Acrivon Therapeutics’ short interest fell 47.6% to 1.49 million shares as of July 15, representing about 3.9% of shares outstanding and a short-interest ratio of 2.3 days.
• The stock traded at $1.47, with a market capitalization of approximately $62.7 million. Acrivon reported a quarterly loss of $0.49 per share, in line with analyst expectations, and analysts forecast a full-year loss of $1.92 per share.
• Analyst sentiment remains a consensus “Moderate Buy,” with an average price target of $11.67, while institutional investors own 71.62% of the company. Acrivon is developing stapled peptide therapies for RAS-driven cancers, including a KRAS G12C candidate in early clinical trials.

Acrivon Therapeutics, Inc. (NASDAQ:ACRV - Get Free Report) saw a large decline in short interest in July. As of July 15th, there was short interest totaling 1,487,445 shares, a decline of 47.6% from the June 30th total of 2,840,348 shares. Based on an average daily volume of 636,379 shares, the short-interest ratio is presently 2.3 days. Approximately 3.9% of the shares of the stock are short sold.

Acrivon Therapeutics Price Performance

Shares of NASDAQ ACRV traded down $0.07 during midday trading on Wednesday, reaching $1.47. 120,254 shares of the stock traded hands, compared to its average volume of 1,056,361. The stock has a market capitalization of $62.70 million, a PE ratio of -0.73 and a beta of 1.82. Acrivon Therapeutics has a one year low of $1.20 and a one year high of $3.56. The company's 50 day moving average is $1.67 and its 200 day moving average is $1.70.

Acrivon Therapeutics (NASDAQ:ACRV - Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.49) earnings per share for the quarter, hitting the consensus estimate of ($0.49). As a group, equities analysts forecast that Acrivon Therapeutics will post -1.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Acrivon Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, July 15th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $11.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Schonfeld Strategic Advisors LLC bought a new stake in shares of Acrivon Therapeutics during the 4th quarter worth approximately $40,000. Vermillion & White Wealth Management Group LLC purchased a new position in Acrivon Therapeutics during the 4th quarter valued at $44,000. Focus Partners Wealth bought a new position in Acrivon Therapeutics in the 3rd quarter valued at $36,000. Quadrature Capital Ltd purchased a new stake in Acrivon Therapeutics in the fourth quarter worth $50,000. Finally, Invesco Ltd. purchased a new stake in Acrivon Therapeutics in the first quarter worth $72,000. Hedge funds and other institutional investors own 71.62% of the company's stock.

About Acrivon Therapeutics

Acrivon Therapeutics NASDAQ: ACRV is a clinical-stage biotechnology company focused on the discovery and development of stapled peptide therapeutics for the treatment of RAS-driven cancers. Its proprietary platform is designed to enhance the stability, cell permeability and target specificity of peptide molecules, enabling the disruption of protein–protein interactions that are traditionally challenging to inhibit with small-molecule drugs or biologics.

The company's lead development candidate is a hydrocarbon-stapled peptide selectively targeting the KRAS G12C mutation, currently in early clinical trials.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.