Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Sees Large Drop in Short Interest
by Sarita Garza · The Markets DailyAcrivon Therapeutics, Inc. (NASDAQ:ACRV – Get Free Report) saw a large drop in short interest in the month of January. As of January 30th, there was short interest totaling 2,024,627 shares, a drop of 73.1% from the January 15th total of 7,521,144 shares. Currently, 7.0% of the shares of the company are short sold. Based on an average daily volume of 1,119,438 shares, the short-interest ratio is presently 1.8 days. Based on an average daily volume of 1,119,438 shares, the short-interest ratio is presently 1.8 days. Currently, 7.0% of the shares of the company are short sold.
Analysts Set New Price Targets
ACRV has been the topic of a number of recent analyst reports. Wall Street Zen downgraded Acrivon Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. HC Wainwright reissued a “buy” rating and issued a $19.00 target price on shares of Acrivon Therapeutics in a research note on Tuesday, November 25th. Piper Sandler boosted their price target on shares of Acrivon Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a research report on Friday, January 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Acrivon Therapeutics in a research note on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.67.
Check Out Our Latest Research Report on Acrivon Therapeutics
Insider Buying and Selling
In related news, CEO Peter Blume-Jensen purchased 49,000 shares of Acrivon Therapeutics stock in a transaction that occurred on Wednesday, January 14th. The stock was bought at an average cost of $1.68 per share, for a total transaction of $82,320.00. Following the completion of the transaction, the chief executive officer owned 2,095,771 shares in the company, valued at $3,520,895.28. The trade was a 2.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders bought 67,832 shares of company stock worth $114,534 over the last quarter. 8.50% of the stock is owned by company insiders.
Hedge Funds Weigh In On Acrivon Therapeutics
Several institutional investors have recently modified their holdings of ACRV. UBS Group AG raised its stake in shares of Acrivon Therapeutics by 150,057.8% in the third quarter. UBS Group AG now owns 683,218 shares of the company’s stock valued at $1,237,000 after acquiring an additional 682,763 shares in the last quarter. Jane Street Group LLC purchased a new stake in Acrivon Therapeutics during the 2nd quarter worth about $371,000. Two Sigma Investments LP raised its position in Acrivon Therapeutics by 76.2% in the 3rd quarter. Two Sigma Investments LP now owns 319,205 shares of the company’s stock valued at $578,000 after purchasing an additional 138,033 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Acrivon Therapeutics in the 2nd quarter valued at about $126,000. Finally, Goldman Sachs Group Inc. grew its position in shares of Acrivon Therapeutics by 504.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 119,422 shares of the company’s stock worth $288,000 after buying an additional 99,680 shares in the last quarter. Institutional investors and hedge funds own 71.62% of the company’s stock.
Acrivon Therapeutics Price Performance
Shares of Acrivon Therapeutics stock opened at $1.56 on Wednesday. The stock has a market capitalization of $49.23 million, a price-to-earnings ratio of -0.73 and a beta of 1.74. The business has a 50-day moving average of $2.15 and a 200 day moving average of $1.89. Acrivon Therapeutics has a 12 month low of $1.05 and a 12 month high of $6.08.
Acrivon Therapeutics (NASDAQ:ACRV – Get Free Report) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.10. Equities research analysts anticipate that Acrivon Therapeutics will post -2.49 earnings per share for the current year.
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.