Short Interest in Arvinas, Inc. (NASDAQ:ARVN) Expands By 5.6%

Arvinas, Inc. (NASDAQ:ARVN) was the recipient of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 9,020,000 shares, an increase of 5.6% from the November 15th total of 8,540,000 shares. Based on an average daily volume of 577,200 shares, the short-interest ratio is currently 15.6 days.

Arvinas Stock Performance

ARVN opened at $18.99 on Tuesday. The company has a 50-day moving average of $25.39 and a 200-day moving average of $25.86. The company has a market capitalization of $1.30 billion, a P/E ratio of -4.07 and a beta of 1.82. Arvinas has a 1-year low of $18.51 and a 1-year high of $53.08.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $60.56 million. During the same period in the prior year, the firm earned ($1.18) earnings per share. The firm’s quarterly revenue was up 196.0% compared to the same quarter last year. As a group, sell-side analysts expect that Arvinas will post -3.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ARVN has been the subject of several recent research reports. BTIG Research began coverage on Arvinas in a report on Tuesday, December 10th. They issued a “buy” rating and a $69.00 price target for the company. BMO Capital Markets lowered their target price on Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. Oppenheimer lowered their price objective on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, Guggenheim reiterated a “buy” rating on shares of Arvinas in a research note on Thursday, December 12th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Arvinas presently has a consensus rating of “Moderate Buy” and an average price target of $63.50.

Institutional Investors Weigh In On Arvinas

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC boosted its holdings in Arvinas by 7.6% in the third quarter. FMR LLC now owns 2,883,604 shares of the company’s stock worth $71,023,000 after purchasing an additional 204,317 shares during the period. Braidwell LP lifted its position in shares of Arvinas by 148.3% in the 3rd quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock worth $31,637,000 after buying an additional 767,242 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its holdings in shares of Arvinas by 1.4% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,244,450 shares of the company’s stock valued at $30,651,000 after buying an additional 17,723 shares during the period. Candriam S.C.A. grew its position in shares of Arvinas by 32.0% during the 2nd quarter. Candriam S.C.A. now owns 610,458 shares of the company’s stock valued at $16,250,000 after buying an additional 147,904 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Arvinas by 6.8% during the second quarter. Dimensional Fund Advisors LP now owns 463,935 shares of the company’s stock worth $12,347,000 after acquiring an additional 29,635 shares during the period. 95.19% of the stock is owned by institutional investors and hedge funds.

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.