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Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Short Interest Down 5.5% in September


Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Short Interest Down 5.5% in September

Acrivon Therapeutics, Inc. (NASDAQ:ACRV - Get Free Report) saw a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 1,210,000 shares, a decrease of 5.5% from the September 15th total of 1,280,000 shares. Based on an average trading volume of 93,600 shares, the days-to-cover ratio is currently 12.9 days. Currently, 5.6% of the shares of the company are short sold.

A number of equities analysts recently issued reports on ACRV shares. Piper Sandler Companies reissued a "buy" rating and issued a $30.00 price objective on shares of Acrivon Therapeutics in a report on Friday, September 6th. JMP Securities reissued a "market outperform" rating and set a $17.00 price objective on shares of Acrivon Therapeutics in a research report on Monday, September 16th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $28.00 target price (up from $25.00) on shares of Acrivon Therapeutics in a report on Monday, September 16th. LADENBURG THALM/SH SH upgraded Acrivon Therapeutics from a "neutral" rating to a "buy" rating and set a $16.00 price target for the company in a research report on Monday, September 16th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $22.00 price objective on shares of Acrivon Therapeutics in a research report on Monday, September 16th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $23.83.

Check Out Our Latest Stock Analysis on ACRV

NASDAQ ACRV opened at $7.75 on Thursday. Acrivon Therapeutics has a twelve month low of $3.19 and a twelve month high of $11.90. The business has a 50-day moving average price of $7.94 and a 200-day moving average price of $7.89. The firm has a market cap of $239.30 million, a price-to-earnings ratio of -2.69 and a beta of 0.78.

Acrivon Therapeutics (NASDAQ:ACRV - Get Free Report) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.52) earnings per share for the quarter, topping the consensus estimate of ($0.60) by $0.08. Research analysts expect that Acrivon Therapeutics will post -2.4 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of the stock. American International Group Inc. grew its holdings in Acrivon Therapeutics by 39.2% during the 1st quarter. American International Group Inc. now owns 6,016 shares of the company's stock valued at $43,000 after buying an additional 1,695 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Acrivon Therapeutics in the second quarter valued at $58,000. XTX Topco Ltd bought a new stake in Acrivon Therapeutics in the second quarter worth $61,000. Rhumbline Advisers raised its stake in Acrivon Therapeutics by 48.9% during the second quarter. Rhumbline Advisers now owns 16,209 shares of the company's stock valued at $94,000 after purchasing an additional 5,320 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Acrivon Therapeutics by 50.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 36,632 shares of the company's stock worth $212,000 after buying an additional 12,219 shares in the last quarter. 71.62% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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