Arvinas, Inc. (NASDAQ:ARVN) Short Interest Update

Arvinas, Inc. (NASDAQ:ARVN) was the recipient of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 8,800,000 shares, a decrease of 5.6% from the October 15th total of 9,320,000 shares. Based on an average daily trading volume, of 545,500 shares, the short-interest ratio is currently 16.1 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ARVN shares. Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. Barclays reduced their price target on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Wedbush restated an “outperform” rating and issued a $57.00 price target on shares of Arvinas in a research note on Tuesday, July 30th. HC Wainwright reiterated a “buy” rating and set a $87.00 target price on shares of Arvinas in a research report on Thursday, October 31st. Finally, Oppenheimer cut their target price on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Arvinas currently has an average rating of “Moderate Buy” and a consensus price target of $60.00.

Hedge Funds Weigh In On Arvinas

A number of large investors have recently bought and sold shares of the business. M&T Bank Corp boosted its holdings in Arvinas by 53.5% during the 3rd quarter. M&T Bank Corp now owns 27,137 shares of the company’s stock valued at $669,000 after acquiring an additional 9,462 shares during the period. Barclays PLC lifted its holdings in shares of Arvinas by 198.9% in the 3rd quarter. Barclays PLC now owns 121,699 shares of the company’s stock worth $2,998,000 after buying an additional 80,984 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Arvinas by 36.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 90,870 shares of the company’s stock worth $2,238,000 after buying an additional 24,223 shares during the period. XTX Topco Ltd purchased a new stake in shares of Arvinas in the 3rd quarter worth $453,000. Finally, Zacks Investment Management lifted its holdings in shares of Arvinas by 9.8% in the 3rd quarter. Zacks Investment Management now owns 89,827 shares of the company’s stock worth $2,212,000 after buying an additional 8,029 shares during the period. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Price Performance

Shares of NASDAQ:ARVN opened at $22.48 on Monday. The company has a market capitalization of $1.54 billion, a PE ratio of -4.81 and a beta of 1.96. The business has a fifty day moving average price of $25.78 and a 200-day moving average price of $27.24. Arvinas has a 1-year low of $19.31 and a 1-year high of $53.08.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.88) by $0.20. The business had revenue of $102.40 million for the quarter, compared to the consensus estimate of $60.56 million. During the same period last year, the business posted ($1.18) EPS. The firm’s revenue for the quarter was up 196.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Arvinas will post -3.32 earnings per share for the current fiscal year.

About Arvinas

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.