Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Short Interest Up 127.8% in September

Acrivon Therapeutics, Inc. (NASDAQ:ACRV - Get Free Report) saw a significant growth in short interest in September. As of September 15th, there was short interest totaling 1,280,000 shares, a growth of 127.8% from the August 31st total of 561,800 shares. Approximately 5.7% of the company's stock are short sold. Based on an average daily volume of 1,300,000 shares, the short-interest ratio is currently 1.0 days. Based on an average daily volume of 1,300,000 shares, the short-interest ratio is currently 1.0 days. Approximately 5.7% of the company's stock are short sold.

Acrivon Therapeutics Price Performance

Acrivon Therapeutics stock opened at $1.91 on Friday. The company has a market capitalization of $60.09 million, a price-to-earnings ratio of -0.85 and a beta of 1.80. Acrivon Therapeutics has a one year low of $1.05 and a one year high of $8.74. The company's fifty day moving average price is $1.46 and its two-hundred day moving average price is $1.56.

Acrivon Therapeutics (NASDAQ:ACRV - Get Free Report) last posted its earnings results on Wednesday, August 13th. The company reported ($0.55) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.02. As a group, sell-side analysts anticipate that Acrivon Therapeutics will post -2.49 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ACRV. Weiss Ratings restated a "sell (e+)" rating on shares of Acrivon Therapeutics in a report on Saturday, September 27th. Oppenheimer cut their price objective on Acrivon Therapeutics from $9.00 to $8.00 and set an "outperform" rating for the company in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $15.00.

Hedge Funds Weigh In On Acrivon Therapeutics

Several hedge funds have recently bought and sold shares of the business. Nuveen LLC acquired a new stake in Acrivon Therapeutics during the 1st quarter valued at $27,000. Quadrature Capital Ltd bought a new position in Acrivon Therapeutics in the 2nd quarter worth approximately $26,000. Invesco Ltd. bought a new position in Acrivon Therapeutics in the 1st quarter worth approximately $72,000. Wealthedge Investment Advisors LLC raised its position in Acrivon Therapeutics by 420.1% in the 1st quarter. Wealthedge Investment Advisors LLC now owns 56,467 shares of the company's stock worth $115,000 after purchasing an additional 45,610 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in Acrivon Therapeutics in the 2nd quarter worth approximately $126,000. 71.62% of the stock is owned by institutional investors and hedge funds.

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.

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