Arvinas, Inc. (NASDAQ:ARVN) Short Interest Up 9.3% in June

Arvinas, Inc. (NASDAQ:ARVN) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 9,020,000 shares, an increase 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 currently 12.4 days.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ARVN. Wells Fargo & Company decreased their target price on Arvinas from $63.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, May 9th. Wedbush reissued an “outperform” rating and set a $57.00 target price on shares of Arvinas in a research note on Wednesday, May 8th. 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. Stifel Nicolaus lowered their price objective on Arvinas from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Finally, Truist Financial reiterated a “buy” rating and set a $65.00 target price on shares of Arvinas in a research report on Monday, March 25th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $61.13.

Arvinas Trading Down 2.4 %

Shares of NASDAQ:ARVN opened at $25.98 on Tuesday. Arvinas has a 12-month low of $13.57 and a 12-month high of $53.08. The stock’s 50-day moving average price is $30.17 and its 200-day moving average price is $37.76. The stock has a market capitalization of $1.78 billion, a P/E ratio of -4.38 and a beta of 1.98.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.97) earnings per share for the quarter, topping the consensus estimate of ($1.42) by $0.45. The business had revenue of $25.30 million during the quarter, compared to analysts’ expectations of $32.94 million. The company’s quarterly revenue was down 22.2% compared to the same quarter last year. During the same quarter last year, the business posted ($1.54) EPS. As a group, research analysts predict that Arvinas will post -4.08 EPS for the current year.

Institutional Trading of Arvinas

Several large investors have recently bought and sold shares of the company. Sectoral Asset Management Inc. lifted its stake in shares of Arvinas by 13.5% in the 3rd quarter. Sectoral Asset Management Inc. now owns 7,010 shares of the company’s stock valued at $138,000 after purchasing an additional 835 shares during the period. Vanguard Group Inc. boosted its position in shares of Arvinas by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,608,223 shares of the company’s stock worth $90,505,000 after purchasing an additional 90,426 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in Arvinas by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 5,746 shares of the company’s stock valued at $237,000 after buying an additional 1,457 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Arvinas by 7.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 18,167 shares of the company’s stock worth $748,000 after acquiring an additional 1,239 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Arvinas in the fourth quarter worth $75,000. 95.19% of the stock is owned by institutional investors.

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.