Short Interest in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Rises By 41.2%

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) saw a large increase in short interest in January. As of January 15th, there was short interest totaling 7,521,144 shares, an increase of 41.2% from the December 31st total of 5,325,324 shares. Currently, 26.0% of the company’s shares are sold short. Based on an average daily trading volume, of 5,799,928 shares, the days-to-cover ratio is currently 1.3 days. Based on an average daily trading volume, of 5,799,928 shares, the days-to-cover ratio is currently 1.3 days. Currently, 26.0% of the company’s shares are sold short.

Acrivon Therapeutics Stock Performance

Shares of ACRV opened at $1.81 on Tuesday. Acrivon Therapeutics has a 1 year low of $1.05 and a 1 year high of $8.00. The stock has a market capitalization of $57.12 million, a PE ratio of -0.85 and a beta of 1.74. The stock has a 50-day simple moving average of $2.24 and a 200-day simple moving average of $1.88.

Acrivon Therapeutics (NASDAQ:ACRV) last issued its earnings results on Thursday, November 13th. The company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.10. Analysts predict that Acrivon Therapeutics will post -2.49 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Wall Street Zen lowered shares of Acrivon Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Piper Sandler raised their target price on Acrivon Therapeutics from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Friday, January 9th. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price target on shares of Acrivon Therapeutics in a research note on Tuesday, November 25th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Acrivon Therapeutics in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Acrivon Therapeutics has an average rating of “Moderate Buy” and an average price target of $11.67.

Insider Transactions at Acrivon Therapeutics

In related news, CEO Peter Blume-Jensen bought 49,000 shares of the business’s stock in a transaction on Wednesday, January 14th. The stock was acquired at an average cost of $1.68 per share, with a total value of $82,320.00. Following the purchase, the chief executive officer directly owned 2,095,771 shares of the company’s stock, valued at $3,520,895.28. The trade was a 2.39% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders acquired 67,832 shares of company stock valued at $114,534. 8.50% of the stock is owned by corporate insiders.

Institutional Trading of Acrivon Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Focus Partners Wealth purchased a new stake in Acrivon Therapeutics during the third quarter worth approximately $36,000. Quadrature Capital Ltd acquired a new position in shares of Acrivon Therapeutics in the 2nd quarter valued at $26,000. Invesco Ltd. purchased a new position in shares of Acrivon Therapeutics in the 1st quarter valued at $72,000. Algert Global LLC acquired a new stake in Acrivon Therapeutics during the 3rd quarter worth $81,000. Finally, XTX Topco Ltd purchased a new stake in Acrivon Therapeutics in the second quarter valued at $126,000. 71.62% of the stock is currently owned by institutional investors and hedge funds.

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.