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

Arvinas, Inc. (NASDAQ:ARVN) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 13,180,000 shares, an increase of 10.3% from the August 15th total of 11,950,000 shares. Based on an average daily volume of 775,800 shares, the days-to-cover ratio is presently 17.0 days.

Wall Street Analyst Weigh In

Several research firms have recently commented on ARVN. Barclays decreased their target price on Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Oppenheimer dropped their target price on Arvinas from $70.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. HC Wainwright reissued a “buy” rating and issued a $87.00 price objective on shares of Arvinas in a report on Thursday, August 1st. Wedbush restated an “outperform” rating and set a $57.00 target price on shares of Arvinas in a research report on Tuesday, July 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Arvinas presently has an average rating of “Moderate Buy” and a consensus price target of $57.50.

Arvinas Stock Up 0.4 %

Shares of NASDAQ:ARVN traded up $0.10 during trading on Monday, hitting $25.15. 401,292 shares of the company were exchanged, compared to its average volume of 747,531. Arvinas has a 1-year low of $13.57 and a 1-year high of $53.08. The company has a market capitalization of $1.72 billion, a P/E ratio of -4.28 and a beta of 1.97. The business’s 50 day moving average is $26.50 and its 200-day moving average is $31.62.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings results on Tuesday, July 30th. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($1.08) by $0.59. The firm had revenue of $76.50 million for the quarter, compared to analyst estimates of $33.27 million. The business’s revenue for the quarter was up 40.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.25) earnings per share. As a group, sell-side analysts anticipate that Arvinas will post -3.51 earnings per share for the current year.

Institutional Investors Weigh In On Arvinas

Several hedge funds have recently added to or reduced their stakes in ARVN. Great Point Partners LLC bought a new stake in shares of Arvinas in the 4th quarter valued at about $9,635,000. Boxer Capital LLC bought a new position in Arvinas during the 4th quarter worth approximately $25,051,000. Charles Schwab Investment Management Inc. lifted its position in shares of Arvinas by 9.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 469,474 shares of the company’s stock worth $19,324,000 after purchasing an additional 39,484 shares during the period. Rhenman & Partners Asset Management AB boosted its stake in shares of Arvinas by 58.0% in the 4th quarter. Rhenman & Partners Asset Management AB now owns 134,270 shares of the company’s stock valued at $5,527,000 after purchasing an additional 49,270 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. acquired a new stake in shares of Arvinas during the fourth quarter worth $2,506,000. 95.19% of the stock is currently owned by institutional investors and hedge funds.

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.