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

Arvinas, Inc. (NASDAQ:ARVN) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 9,610,000 shares, a growth of 6.5% from the November 30th total of 9,020,000 shares. Based on an average daily volume of 719,200 shares, the days-to-cover ratio is currently 13.4 days.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ARVN. Stephens began coverage on shares of Arvinas in a research report on Monday, November 18th. They set an “overweight” rating and a $55.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $87.00 price objective on shares of Arvinas in a report on Wednesday, December 11th. BMO Capital Markets cut their target price on Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. BTIG Research initiated coverage on Arvinas in a research report on Tuesday, December 10th. They set a “buy” rating and a $69.00 price target for the company. Finally, Guggenheim reissued a “buy” rating on shares of Arvinas in a report on Thursday, December 12th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.50.

Arvinas Stock Performance

Shares of ARVN stock opened at $19.00 on Tuesday. Arvinas has a twelve month low of $17.37 and a twelve month high of $53.08. The stock has a market cap of $1.31 billion, a P/E ratio of -4.07 and a beta of 1.82. The stock has a 50 day moving average of $23.90 and a 200 day moving average of $25.21.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share for the quarter, beating the consensus estimate of ($0.88) by $0.20. The firm had revenue of $102.40 million for the quarter, compared to analysts’ expectations of $60.56 million. During the same period last year, the firm earned ($1.18) earnings per share. Arvinas’s revenue for the quarter was up 196.0% compared to the same quarter last year. On average, research analysts predict that Arvinas will post -3.22 earnings per share for the current fiscal year.

Institutional Trading of Arvinas

Several institutional investors have recently bought and sold shares of ARVN. Bank of New York Mellon Corp raised its stake in shares of Arvinas by 32.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 235,096 shares of the company’s stock worth $6,258,000 after buying an additional 57,835 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Arvinas by 13.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 14,298 shares of the company’s stock valued at $381,000 after purchasing an additional 1,728 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Arvinas by 30.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,062 shares of the company’s stock valued at $268,000 after purchasing an additional 2,363 shares during the period. Rhumbline Advisers increased its stake in shares of Arvinas by 26.7% during the second quarter. Rhumbline Advisers now owns 90,229 shares of the company’s stock worth $2,402,000 after purchasing an additional 19,024 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Arvinas by 38.3% during the second quarter. Victory Capital Management Inc. now owns 53,912 shares of the company’s stock worth $1,435,000 after purchasing an additional 14,924 shares in the last quarter. 95.19% of the stock is owned by institutional investors and hedge funds.

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.