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

Arvinas, Inc. (NASDAQ:ARVN) was the recipient of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 10,440,000 shares, an increase of 7.0% from the January 15th total of 9,760,000 shares. Based on an average daily volume of 885,500 shares, the days-to-cover ratio is currently 11.8 days.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ARVN shares. Guggenheim reiterated a “buy” rating and issued a $57.00 price objective on shares of Arvinas in a research report on Wednesday. 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 for the company. HC Wainwright reaffirmed a “buy” rating and issued a $87.00 price objective on shares of Arvinas in a research note on Wednesday, December 11th. BMO Capital Markets reiterated an “outperform” rating and set a $82.00 target price (down from $88.00) on shares of Arvinas in a report on Wednesday. Finally, Barclays dropped their price objective on Arvinas from $48.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Thirteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Arvinas has a consensus rating of “Buy” and a consensus price target of $60.00.

Arvinas Price Performance

NASDAQ:ARVN traded up $0.64 during mid-day trading on Friday, hitting $18.31. 935,305 shares of the company’s stock traded hands, compared to its average volume of 823,758. The firm has a 50 day moving average of $18.88 and a two-hundred day moving average of $23.19. Arvinas has a 12 month low of $16.61 and a 12 month high of $53.08.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($1.07) by $0.44. During the same period last year, the business posted ($2.53) EPS. Research analysts predict that Arvinas will post -3.22 earnings per share for the current year.

Hedge Funds Weigh In On Arvinas

Several hedge funds and other institutional investors have recently modified their holdings of ARVN. T. Rowe Price Investment Management Inc. bought a new position in Arvinas in the 4th quarter valued at $42,332,000. Norges Bank acquired a new stake in shares of Arvinas during the fourth quarter worth $23,845,000. Boxer Capital Management LLC acquired a new stake in shares of Arvinas during the fourth quarter worth $20,294,000. Braidwell LP grew its stake in Arvinas by 148.3% in the third quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock valued at $31,637,000 after acquiring an additional 767,242 shares during the period. Finally, Baker BROS. Advisors LP acquired a new position in Arvinas in the third quarter valued at about $9,989,000. Institutional investors own 95.19% of the company’s stock.

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.