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

Arvinas, Inc. (NASDAQ:ARVN) was the recipient of a significant decline in short interest in the month of May. As of May 31st, there was short interest totalling 8,250,000 shares, a decline of 7.6% from the May 15th total of 8,930,000 shares. Based on an average trading volume of 739,200 shares, the short-interest ratio is currently 11.2 days.

Institutional Investors Weigh In On Arvinas

Hedge funds have recently bought and sold shares of the company. Barclays PLC increased its position in Arvinas by 27.2% during the third quarter. Barclays PLC now owns 33,797 shares of the company’s stock worth $663,000 after buying an additional 7,228 shares during the last quarter. Swiss National Bank lifted its holdings in Arvinas by 1.2% during the 3rd quarter. Swiss National Bank now owns 99,700 shares of the company’s stock valued at $1,958,000 after purchasing an additional 1,200 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Arvinas by 18.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 429,990 shares of the company’s stock worth $8,445,000 after purchasing an additional 66,430 shares during the period. FMR LLC raised its position in shares of Arvinas by 10.6% in the third quarter. FMR LLC now owns 4,868,295 shares of the company’s stock valued at $95,613,000 after purchasing an additional 466,667 shares during the period. Finally, Federated Hermes Inc. acquired a new stake in shares of Arvinas during the 3rd quarter worth about $2,048,000. 95.19% of the stock is currently owned by institutional investors and hedge funds.

Arvinas Stock Down 0.5 %

NASDAQ:ARVN opened at $24.82 on Wednesday. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -4.19 and a beta of 1.98. Arvinas has a twelve month low of $13.57 and a twelve month high of $53.08. The stock’s 50 day moving average price is $31.90 and its two-hundred day moving average price is $38.12.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.97) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.42) by $0.45. The firm had revenue of $25.30 million for the quarter, compared to analyst estimates of $32.94 million. Arvinas had a negative net margin of 185.09% and a negative return on equity of 64.79%. The company’s quarterly revenue was down 22.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.54) earnings per share. As a group, analysts anticipate that Arvinas will post -4.08 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ARVN shares. HC Wainwright reaffirmed a “buy” rating and set a $87.00 price target on shares of Arvinas in a research report on Friday, May 17th. Wedbush reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Arvinas in a research note on Wednesday, May 8th. Leerink Partnrs reissued an “outperform” rating on shares of Arvinas in a research report on Thursday, February 22nd. Barclays boosted their price objective on shares of Arvinas from $26.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Finally, Wells Fargo & Company lowered their target price on Arvinas from $63.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Arvinas has a consensus rating of “Moderate Buy” and an average target price of $61.13.

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.