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

Arvinas, Inc. (NASDAQ:ARVN) was the recipient of a large increase in short interest in November. As of November 30th, there was short interest totalling 9,020,000 shares, an increase of 5.6% from the November 15th total of 8,540,000 shares. Based on an average trading volume of 577,200 shares, the short-interest ratio is presently 15.6 days.

Arvinas Stock Performance

NASDAQ:ARVN opened at $19.10 on Wednesday. The business has a 50 day moving average price of $25.39 and a 200-day moving average price of $25.86. Arvinas has a fifty-two week low of $18.51 and a fifty-two week high of $53.08. The firm has a market cap of $1.31 billion, a PE ratio of -4.09 and a beta of 1.82.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.20. The firm had revenue of $102.40 million during the quarter, compared to the consensus estimate of $60.56 million. Arvinas’s revenue was up 196.0% on a year-over-year basis. During the same period last year, the business earned ($1.18) EPS. Research analysts predict that Arvinas will post -3.22 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on ARVN. Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a report on Monday, September 9th. Stephens started coverage on shares of Arvinas in a report on Monday, November 18th. They issued an “overweight” rating and a $55.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $87.00 target price on shares of Arvinas in a research note on Wednesday, December 11th. BMO Capital Markets dropped their price target on Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Finally, BTIG Research began coverage on Arvinas in a research report on Tuesday, December 10th. They set a “buy” rating and a $69.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.50.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Baker BROS. Advisors LP purchased a new stake in Arvinas in the 3rd quarter worth approximately $9,989,000. Wasatch Advisors LP lifted its stake in Arvinas by 58.3% in the third quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock worth $10,737,000 after acquiring an additional 160,510 shares during the period. Candriam S.C.A. boosted its holdings in Arvinas by 32.0% in the second quarter. Candriam S.C.A. now owns 610,458 shares of the company’s stock valued at $16,250,000 after acquiring an additional 147,904 shares in the last quarter. Magnetar Financial LLC boosted its holdings in Arvinas by 112.7% in the second quarter. Magnetar Financial LLC now owns 41,992 shares of the company’s stock valued at $1,118,000 after acquiring an additional 22,245 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position 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 valued at $6,258,000 after purchasing an additional 57,835 shares during the period. Hedge funds and other institutional investors own 95.19% of the company’s stock.

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.