Short Interest in Arvinas, Inc. (NASDAQ:ARVN) Decreases By 29.9%

Arvinas, Inc. (NASDAQ:ARVN) was the recipient of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 8,900,000 shares, a decrease of 29.9% from the February 28th total of 12,700,000 shares. Based on an average daily trading volume, of 1,680,000 shares, the short-interest ratio is currently 5.3 days. Currently, 13.7% of the shares of the company are sold short.

Insider Activity at Arvinas

In other Arvinas news, insider Ian Taylor sold 9,020 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $16.71, for a total value of $150,724.20. Following the sale, the insider now directly owns 159,121 shares of the company’s stock, valued at approximately $2,658,911.91. This represents a 5.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John G. Houston sold 31,338 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $16.72, for a total value of $523,971.36. Following the sale, the chief executive officer now directly owns 1,157,480 shares in the company, valued at $19,353,065.60. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,230 shares of company stock worth $769,402 over the last quarter. Insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Arvinas

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Arvinas by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 7,062,561 shares of the company’s stock worth $135,389,000 after acquiring an additional 56,561 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Arvinas by 6.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,103,011 shares of the company’s stock worth $78,656,000 after purchasing an additional 249,295 shares during the last quarter. RTW Investments LP raised its stake in Arvinas by 19.8% during the fourth quarter. RTW Investments LP now owns 3,334,308 shares of the company’s stock worth $63,919,000 after purchasing an additional 551,979 shares during the period. FMR LLC boosted its holdings in Arvinas by 7.6% in the 3rd quarter. FMR LLC now owns 2,883,604 shares of the company’s stock valued at $71,023,000 after purchasing an additional 204,317 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Arvinas by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock valued at $57,371,000 after buying an additional 367,343 shares during the period. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Stock Down 5.6 %

Arvinas stock opened at $7.59 on Friday. The company has a fifty day simple moving average of $15.27 and a 200-day simple moving average of $20.67. The firm has a market capitalization of $521.98 million, a price-to-earnings ratio of -2.74 and a beta of 1.95. Arvinas has a 52-week low of $7.53 and a 52-week high of $41.34.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.07) by $0.44. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same quarter in the previous year, the firm posted ($2.53) earnings per share. On average, research analysts anticipate that Arvinas will post -3.81 EPS for the current fiscal year.

Analysts Set New Price Targets

ARVN has been the topic of a number of analyst reports. Morgan Stanley dropped their price objective on shares of Arvinas from $48.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. HC Wainwright reaffirmed a “buy” rating and issued a $81.00 price objective on shares of Arvinas in a report on Tuesday, March 11th. BMO Capital Markets set a $20.00 target price on shares of Arvinas and gave the stock an “outperform” rating in a research note on Wednesday, March 12th. Wells Fargo & Company set a $26.00 target price on Arvinas and gave the company an “overweight” rating in a research report on Wednesday, March 12th. Finally, Stifel Nicolaus reduced their price target on Arvinas from $63.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.50.

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.