Arvinas, Inc. (NASDAQ:ARVN) Short Interest Up 5.6% in November

Arvinas, Inc. (NASDAQ:ARVN) saw a significant increase in short interest in 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 trading volume of 577,200 shares, the days-to-cover ratio is currently 15.6 days.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ARVN. Oppenheimer cut their price target on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. BTIG Research started coverage on shares of Arvinas in a research note on Tuesday, December 10th. They set a “buy” rating and a $69.00 target price on the stock. Stephens initiated coverage on shares of Arvinas in a research report on Monday, November 18th. They set an “overweight” rating and a $55.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $87.00 price objective on shares of Arvinas in a report on Wednesday, December 11th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a report on Monday, September 9th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Arvinas presently has an average rating of “Moderate Buy” and a consensus target price of $63.50.

Arvinas Stock Down 1.2 %

ARVN stock opened at $19.50 on Monday. The business has a 50 day moving average of $25.52 and a 200 day moving average of $25.96. The firm has a market cap of $1.34 billion, a PE ratio of -4.18 and a beta of 1.82. Arvinas has a twelve month low of $18.51 and a twelve month high of $53.08.

Arvinas (NASDAQ:ARVN) last issued its quarterly 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 company had revenue of $102.40 million for the quarter, compared to the consensus estimate of $60.56 million. Arvinas’s revenue was up 196.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.18) earnings per share. On average, research analysts expect that Arvinas will post -3.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. raised its holdings in Arvinas by 6.5% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 65,907 shares of the company’s stock worth $1,754,000 after acquiring an additional 4,045 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Arvinas by 32.6% in the second quarter. Bank of New York Mellon Corp now owns 235,096 shares of the company’s stock worth $6,258,000 after purchasing an additional 57,835 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of 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 boosted its position in shares of Arvinas by 30.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,062 shares of the company’s stock valued at $268,000 after buying an additional 2,363 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its holdings in Arvinas by 57.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 256,658 shares of the company’s stock worth $6,832,000 after buying an additional 93,568 shares in the last quarter. 95.19% of the stock is owned by hedge funds and other 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.