Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Short Interest Up 6.3% in January

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totalling 1,180,000 shares, a growth of 6.3% from the December 31st total of 1,110,000 shares. Based on an average trading volume of 56,600 shares, the days-to-cover ratio is presently 20.8 days. Currently, 5.4% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ACRV. HC Wainwright reiterated a “buy” rating and issued a $22.00 target price on shares of Acrivon Therapeutics in a research report on Thursday, November 14th. Cantor Fitzgerald began coverage on Acrivon Therapeutics in a research note on Friday. They issued an “overweight” rating on the stock. BMO Capital Markets dropped their price objective on Acrivon Therapeutics from $28.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, November 14th. Finally, KeyCorp started coverage on shares of Acrivon Therapeutics in a report on Friday. They set an “overweight” rating for the company. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Acrivon Therapeutics has a consensus rating of “Buy” and an average target price of $23.67.

Acrivon Therapeutics Stock Down 8.2 %

Shares of ACRV opened at $5.57 on Tuesday. The company has a 50 day moving average of $6.31 and a two-hundred day moving average of $7.32. The company has a market cap of $173.45 million, a price-to-earnings ratio of -2.06 and a beta of 0.77. Acrivon Therapeutics has a twelve month low of $3.19 and a twelve month high of $11.90.

Institutional Trading of Acrivon Therapeutics

A number of institutional investors have recently bought and sold shares of ACRV. China Universal Asset Management Co. Ltd. purchased a new position in Acrivon Therapeutics in the 4th quarter worth $40,000. JPMorgan Chase & Co. raised its stake in shares of Acrivon Therapeutics by 548.3% in the third quarter. JPMorgan Chase & Co. now owns 33,991 shares of the company’s stock worth $238,000 after purchasing an additional 28,748 shares during the last quarter. Exome Asset Management LLC acquired a new stake in shares of Acrivon Therapeutics during the third quarter worth about $817,000. Barclays PLC boosted its position in Acrivon Therapeutics by 51.2% in the third quarter. Barclays PLC now owns 33,306 shares of the company’s stock valued at $233,000 after buying an additional 11,273 shares during the last quarter. Finally, State Street Corp increased its holdings in Acrivon Therapeutics by 26.4% in the 3rd quarter. State Street Corp now owns 225,896 shares of the company’s stock worth $1,581,000 after buying an additional 47,233 shares during the period. 71.62% of the stock is currently owned by institutional investors and hedge funds.

Acrivon Therapeutics Company Profile

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.