Arvinas, Inc. (NASDAQ:ARVN – Get Free Report) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totalling 9,020,000 shares, a growth of 9.3% from the May 31st total of 8,250,000 shares. Based on an average daily trading volume, of 729,400 shares, the days-to-cover ratio is presently 12.4 days.
Wall Street Analyst Weigh In
ARVN has been the subject of several recent analyst reports. 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 research note on Thursday, May 9th. Wedbush reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Arvinas in a research report on Wednesday, May 8th. HC Wainwright reiterated a “buy” rating and set a $87.00 target price on shares of Arvinas in a research note on Friday, May 17th. Truist Financial restated a “buy” rating and issued a $65.00 price target on shares of Arvinas in a research note on Monday, March 25th. Finally, Stifel Nicolaus reduced their price objective on shares of Arvinas from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Arvinas has a consensus rating of “Moderate Buy” and a consensus price target of $61.13.
Check Out Our Latest Stock Report on ARVN
Hedge Funds Weigh In On Arvinas
Arvinas Trading Down 3.8 %
NASDAQ:ARVN opened at $23.90 on Thursday. The stock has a 50 day moving average of $29.81 and a 200-day moving average of $37.58. The firm has a market capitalization of $1.64 billion, a PE ratio of -4.03 and a beta of 1.98. Arvinas has a 52 week low of $13.57 and a 52 week high of $53.08.
Arvinas (NASDAQ:ARVN – Get Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.97) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.45. The company had revenue of $25.30 million for the quarter, compared to analyst estimates of $32.94 million. During the same quarter in the prior year, the firm earned ($1.54) EPS. The company’s revenue for the quarter was down 22.2% compared to the same quarter last year. As a group, analysts predict that Arvinas will post -4.08 EPS for the current fiscal year.
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.
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