Arvinas, Inc. (NASDAQ:ARVN) Short Interest Update

Arvinas, Inc. (NASDAQ:ARVN) was the target of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 8,800,000 shares, a decline of 5.6% from the October 15th total of 9,320,000 shares. Based on an average trading volume of 545,500 shares, the days-to-cover ratio is presently 16.1 days.

Institutional Investors Weigh In On Arvinas

Several large investors have recently made changes to their positions in ARVN. M&T Bank Corp grew its holdings in Arvinas by 53.5% in the 3rd quarter. M&T Bank Corp now owns 27,137 shares of the company’s stock worth $669,000 after buying an additional 9,462 shares in the last quarter. Barclays PLC boosted its position in Arvinas by 198.9% during the 3rd quarter. Barclays PLC now owns 121,699 shares of the company’s stock worth $2,998,000 after acquiring an additional 80,984 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in shares of Arvinas by 36.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 90,870 shares of the company’s stock worth $2,238,000 after purchasing an additional 24,223 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Arvinas during the third quarter valued at $453,000. Finally, Zacks Investment Management raised its stake in shares of Arvinas by 9.8% during the third quarter. Zacks Investment Management now owns 89,827 shares of the company’s stock valued at $2,212,000 after purchasing an additional 8,029 shares in the last quarter. Institutional investors and hedge funds own 95.19% of the company’s stock.

Analyst Upgrades and Downgrades

ARVN has been the subject of a number of analyst reports. HC Wainwright reissued a “buy” rating and issued a $87.00 price target on shares of Arvinas in a report on Thursday, October 31st. Stephens initiated coverage on shares of Arvinas in a research report on Monday. They set an “overweight” rating and a $55.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a report on Monday, September 9th. Oppenheimer decreased their price objective on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, Wedbush reissued an “outperform” rating and issued a $57.00 target price on shares of Arvinas in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Arvinas has an average rating of “Moderate Buy” and an average price target of $59.62.

Arvinas Price Performance

NASDAQ:ARVN opened at $21.64 on Wednesday. Arvinas has a 12-month low of $20.28 and a 12-month high of $53.08. The business has a 50 day simple moving average of $25.66 and a 200 day simple moving average of $27.09. The firm has a market capitalization of $1.49 billion, a P/E ratio of -4.63 and a beta of 1.96.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, topping the consensus estimate of ($0.88) by $0.20. The firm had revenue of $102.40 million for the quarter, compared to the consensus estimate of $60.56 million. The firm’s revenue was up 196.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.18) EPS. Research analysts anticipate that Arvinas will post -3.32 EPS for the current fiscal year.

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.