Arvinas, Inc. (NASDAQ:ARVN) Sees Significant Growth in Short Interest

Arvinas, Inc. (NASDAQ:ARVN) was the target of a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 10,640,000 shares, an increase of 11.5% from the June 30th total of 9,540,000 shares. Based on an average daily trading volume, of 850,200 shares, the short-interest ratio is presently 12.5 days.

Analyst Upgrades and Downgrades

ARVN has been the subject of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $87.00 price objective on shares of Arvinas in a report on Friday, May 17th. Stifel Nicolaus decreased their price objective on shares of Arvinas from $72.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Wells Fargo & Company reduced their price target on shares of Arvinas from $63.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, May 9th. Finally, Wedbush reissued an “outperform” rating and issued a $57.00 price target on shares of Arvinas in a report on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.13.

Institutional Investors Weigh In On Arvinas

Hedge funds have recently made changes to their positions in the company. Panagora Asset Management Inc. boosted its stake in shares of Arvinas by 57.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 256,658 shares of the company’s stock valued at $6,832,000 after purchasing an additional 93,568 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Arvinas by 30.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,062 shares of the company’s stock valued at $268,000 after purchasing an additional 2,363 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Arvinas by 13.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 14,298 shares of the company’s stock valued at $381,000 after purchasing an additional 1,728 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Arvinas by 32.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 235,096 shares of the company’s stock worth $6,258,000 after acquiring an additional 57,835 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in Arvinas by 6.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 65,907 shares of the company’s stock worth $1,754,000 after acquiring an additional 4,045 shares during the last quarter. Institutional investors and hedge funds own 95.19% of the company’s stock.

Arvinas Trading Down 3.8 %

Shares of ARVN stock traded down $1.05 during mid-day trading on Tuesday, reaching $26.73. The company’s stock had a trading volume of 897,546 shares, compared to its average volume of 773,979. Arvinas has a 1-year low of $13.57 and a 1-year high of $53.08. The firm’s 50-day moving average is $28.41 and its two-hundred day moving average is $36.12.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.97) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.45. The business had revenue of $25.30 million during the quarter, compared to analyst estimates of $32.94 million. During the same quarter in the prior year, the company posted ($1.54) EPS. The company’s quarterly revenue was down 22.2% compared to the same quarter last year. On average, equities research analysts forecast that Arvinas will post -4.08 earnings per share for the current fiscal year.

Arvinas Company Profile

Arvinas, Inc, a clinical-stage biotechnology company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. The company engineers proteolysis targeting chimeras (PROTAC) targeted protein degraders that are designed to harness the body's own natural protein disposal system to degrade and remove disease-causing proteins.