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

Arvinas, Inc. (NASDAQ:ARVN) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 13,180,000 shares, a growth 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.

Analysts Set New Price Targets

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

Arvinas Price Performance

Arvinas stock opened at $25.15 on Tuesday. The business has a 50 day simple moving average of $26.50 and a 200-day simple moving average of $31.62. Arvinas has a 12 month low of $13.57 and a 12 month high of $53.08. The stock has a market capitalization of $1.72 billion, a PE ratio of -4.24 and a beta of 1.97.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ARVN. RTW Investments LP acquired a new position in Arvinas during the 4th quarter worth approximately $173,427,000. Vanguard Group Inc. boosted its position in Arvinas by 29.9% during the first quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company’s stock worth $260,046,000 after purchasing an additional 1,448,166 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Arvinas by 42.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,832,123 shares of the company’s stock valued at $157,731,000 after purchasing an additional 1,143,452 shares during the last quarter. Commodore Capital LP purchased a new position in shares of Arvinas in the fourth quarter valued at $41,160,000. Finally, Norges Bank acquired a new position in shares of Arvinas during the 4th quarter worth $36,126,000. 95.19% of the stock is owned by hedge funds and other institutional investors.

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.