Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Sees Large Increase in Short Interest

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) saw a large increase in short interest in the month of 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. Approximately 26.0% of the shares of the company are sold short. Based on an average trading volume of 5,799,928 shares, the days-to-cover ratio is currently 1.3 days. Based on an average trading volume of 5,799,928 shares, the days-to-cover ratio is currently 1.3 days. Approximately 26.0% of the shares of the company are sold short.

Insider Transactions at Acrivon Therapeutics

In other Acrivon Therapeutics news, CEO Peter Blume-Jensen bought 49,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 14th. The shares were bought at an average price of $1.68 per share, with a total value of $82,320.00. Following the purchase, the chief executive officer owned 2,095,771 shares of the company’s stock, valued at $3,520,895.28. This trade represents a 2.39% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have purchased 67,832 shares of company stock valued at $114,534. Corporate insiders own 11.90% of the company’s stock.

Institutional Trading of Acrivon Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Focus Partners Wealth purchased a new position in Acrivon Therapeutics in the 3rd quarter valued at $36,000. Quadrature Capital Ltd acquired a new stake in shares of Acrivon Therapeutics in the second quarter valued at about $26,000. Invesco Ltd. purchased a new position in shares of Acrivon Therapeutics in the first quarter worth about $72,000. Algert Global LLC acquired a new position in Acrivon Therapeutics during the third quarter worth about $81,000. Finally, XTX Topco Ltd purchased a new stake in Acrivon Therapeutics during the 2nd quarter valued at about $126,000. Hedge funds and other institutional investors own 71.62% of the company’s stock.

Acrivon Therapeutics Price Performance

ACRV opened at $1.79 on Friday. The firm has a market capitalization of $56.49 million, a PE ratio of -0.84 and a beta of 1.73. The business’s 50-day moving average is $2.25 and its two-hundred day moving average is $1.87. Acrivon Therapeutics has a 1 year low of $1.05 and a 1 year high of $8.00.

Acrivon Therapeutics (NASDAQ:ACRV) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.10. As a group, sell-side analysts expect that Acrivon Therapeutics will post -2.49 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.