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

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

Arvinas Price Performance

ARVN stock traded up $0.64 during mid-day trading on Friday, reaching $18.31. 935,305 shares of the company traded hands, compared to its average volume of 823,758. Arvinas has a fifty-two week low of $16.61 and a fifty-two week high of $53.08. The firm’s 50 day moving average price is $18.88 and its 200 day moving average price is $23.19.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) EPS for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.44. During the same quarter in the prior year, the firm posted ($2.53) earnings per share. Research analysts expect that Arvinas will post -3.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

Several research firms have issued reports on ARVN. Wedbush restated an “outperform” rating and issued a $57.00 price objective on shares of Arvinas in a research note on Tuesday, February 11th. Stephens started coverage on Arvinas in a research report on Monday, November 18th. They issued an “overweight” rating and a $55.00 target price on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $82.00 target price (down previously from $88.00) on shares of Arvinas in a research report on Wednesday. Barclays decreased their target price on Arvinas from $48.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Finally, BTIG Research started coverage on Arvinas in a research report on Tuesday, December 10th. They issued a “buy” rating and a $69.00 target price on the stock. Thirteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Arvinas has an average rating of “Buy” and a consensus price target of $60.00.

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.