Short Interest in Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Declines By 33.7%

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) was the target of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 748,700 shares, a decrease of 33.7% from the February 13th total of 1,130,000 shares. Based on an average daily trading volume, of 56,200 shares, the days-to-cover ratio is currently 13.3 days. Approximately 3.5% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several equities research analysts have commented on ACRV shares. Cantor Fitzgerald began coverage on shares of Acrivon Therapeutics in a research report on Friday, January 31st. They issued an “overweight” rating on the stock. KeyCorp assumed coverage on shares of Acrivon Therapeutics in a report on Friday, January 31st. They issued an “overweight” rating on the stock. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $23.67.

Institutional Investors Weigh In On Acrivon Therapeutics

Large investors have recently made changes to their positions in the company. Wealthedge Investment Advisors LLC acquired a new position in Acrivon Therapeutics in the 4th quarter worth approximately $65,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Acrivon Therapeutics by 29.7% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 102,784 shares of the company’s stock valued at $619,000 after buying an additional 23,535 shares in the last quarter. Corton Capital Inc. purchased a new position in shares of Acrivon Therapeutics during the fourth quarter valued at $73,000. Acorn Capital Advisors LLC acquired a new position in Acrivon Therapeutics during the fourth quarter valued at $2,440,000. Finally, Northern Trust Corp lifted its stake in Acrivon Therapeutics by 11.3% in the 4th quarter. Northern Trust Corp now owns 117,323 shares of the company’s stock worth $706,000 after acquiring an additional 11,925 shares in the last quarter. Institutional investors and hedge funds own 71.62% of the company’s stock.

Acrivon Therapeutics Trading Up 7.3 %

NASDAQ ACRV opened at $5.44 on Monday. The stock’s 50-day moving average price is $5.62 and its two-hundred day moving average price is $6.80. The company has a market cap of $169.38 million, a PE ratio of -2.01 and a beta of 0.85. Acrivon Therapeutics has a 1 year low of $4.69 and a 1 year high of $11.90.

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.