Acrivon Therapeutics, Inc. (NASDAQ:ACRV) Short Interest Down 47.6% in July

Acrivon Therapeutics, Inc. (NASDAQ:ACRV) saw a large drop in short interest in the month of 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. Approximately 3.9% of the company’s shares are short sold. Based on an average daily trading volume, of 636,379 shares, the short-interest ratio is presently 2.3 days.

Institutional Trading of Acrivon Therapeutics

A number of hedge funds have recently bought and sold shares of ACRV. Schonfeld Strategic Advisors LLC bought a new stake in Acrivon Therapeutics during the 4th quarter valued at $40,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of Acrivon Therapeutics in the 4th quarter worth $44,000. Focus Partners Wealth bought a new position in shares of Acrivon Therapeutics in the 3rd quarter worth $36,000. Quadrature Capital Ltd purchased a new stake in shares of Acrivon Therapeutics during the 4th quarter worth $50,000. Finally, Invesco Ltd. bought a new stake in Acrivon Therapeutics during the first quarter valued at about $72,000. Hedge funds and other institutional investors own 71.62% of the company’s stock.

Acrivon Therapeutics Stock Down 4.9%

Shares of ACRV stock traded down $0.07 on Wednesday, hitting $1.47. The stock had a trading volume of 120,254 shares, compared to its average volume of 1,056,361. Acrivon Therapeutics has a one year low of $1.20 and a one year high of $3.56. The business has a 50 day moving average price of $1.67 and a 200 day moving average price of $1.70. The company has a market cap of $62.70 million, a PE ratio of -0.73 and a beta of 1.82.

Acrivon Therapeutics (NASDAQ:ACRV) last posted its earnings results on Wednesday, May 13th. The company reported ($0.49) EPS for the quarter, meeting analysts’ consensus estimates of ($0.49). Equities research analysts expect that Acrivon Therapeutics will post -1.92 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Acrivon Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 15th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.67.

Acrivon Therapeutics Company Profile

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.