Short Interest in Arvinas, Inc. (NASDAQ:ARVN) Increases By 11.5%

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

Wall Street Analysts Forecast Growth

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

Arvinas Price Performance

Shares of ARVN stock traded down $1.87 during trading hours on Monday, reaching $27.78. 596,510 shares of the company traded hands, compared to its average volume of 773,121. The firm has a 50-day moving average price of $28.52 and a 200 day moving average price of $36.19. The company has a market cap of $1.90 billion, a P/E ratio of -4.72 and a beta of 1.98. Arvinas has a 12-month low of $13.57 and a 12-month high of $53.08.

Arvinas (NASDAQ:ARVN) last released its earnings results on Tuesday, May 7th. The company reported ($0.97) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.45. The firm had revenue of $25.30 million for the quarter, compared to analysts’ expectations of $32.94 million. The firm’s quarterly revenue was down 22.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.54) EPS. Sell-side analysts predict that Arvinas will post -4.08 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Arvinas during the first quarter worth $44,000. Headlands Technologies LLC grew its position in shares of Arvinas by 393.4% during the fourth quarter. Headlands Technologies LLC now owns 2,388 shares of the company’s stock valued at $98,000 after purchasing an additional 1,904 shares in the last quarter. Contravisory Investment Management Inc. bought a new stake in shares of Arvinas in the second quarter worth about $185,000. Personal CFO Solutions LLC purchased a new stake in shares of Arvinas in the fourth quarter worth about $206,000. Finally, Cullinan Associates Inc. bought a new position in Arvinas during the first quarter valued at approximately $248,000. 95.19% of the stock is currently owned by institutional investors.

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.