Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Sees Significant Drop in Short Interest

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) was the target of a large drop in short interest in July. As of July 15th, there was short interest totaling 1,487,445 shares, a drop of 47.6% from the June 30th total of 2,840,348 shares. Currently, 3.9% of the company’s stock are short sold. Based on an average daily volume of 636,379 shares, the days-to-cover ratio is presently 2.3 days.

Institutional Trading of Acrivon Therapeutics

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its position in Acrivon Therapeutics by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 198,223 shares of the company’s stock valued at $478,000 after purchasing an additional 6,190 shares during the period. Renaissance Technologies LLC grew its position in Acrivon Therapeutics by 1.7% in the 4th quarter. Renaissance Technologies LLC now owns 634,169 shares of the company’s stock worth $1,528,000 after purchasing an additional 10,769 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in Acrivon Therapeutics in the 4th quarter worth approximately $40,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Acrivon Therapeutics during the 4th quarter valued at $44,000. Finally, Focus Partners Wealth purchased a new stake in Acrivon Therapeutics during the 3rd quarter valued at $36,000. 71.62% of the stock is currently owned by institutional investors.

Acrivon Therapeutics Price Performance

ACRV stock opened at $1.43 on Thursday. The stock has a market capitalization of $61.20 million, a P/E ratio of -0.71 and a beta of 1.82. Acrivon Therapeutics has a 1-year low of $1.20 and a 1-year high of $3.56. The business has a fifty day moving average price of $1.67 and a 200-day moving average price of $1.69.

Acrivon Therapeutics (NASDAQ:ACRV) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.49) EPS for the quarter, meeting the consensus estimate of ($0.49). As a group, analysts anticipate that Acrivon Therapeutics will post -1.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Acrivon Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 15th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.