Arvinas, Inc. (NASDAQ:ARVN) Short Interest Up 6.5% in December

Arvinas, Inc. (NASDAQ:ARVN) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 9,610,000 shares, a growth of 6.5% from the November 30th total of 9,020,000 shares. Based on an average trading volume of 719,200 shares, the days-to-cover ratio is presently 13.4 days.

Institutional Trading of Arvinas

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC raised its stake in Arvinas by 7.6% during the third quarter. FMR LLC now owns 2,883,604 shares of the company’s stock valued at $71,023,000 after buying an additional 204,317 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Arvinas by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock valued at $57,371,000 after acquiring an additional 367,343 shares in the last quarter. Braidwell LP raised its position in shares of Arvinas by 148.3% in the 3rd quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock worth $31,637,000 after purchasing an additional 767,242 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its stake in Arvinas by 1.4% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,244,450 shares of the company’s stock worth $30,651,000 after purchasing an additional 17,723 shares in the last quarter. Finally, Candriam S.C.A. grew its position in Arvinas by 32.0% during the 2nd quarter. Candriam S.C.A. now owns 610,458 shares of the company’s stock valued at $16,250,000 after purchasing an additional 147,904 shares during the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Trading Up 0.9 %

Shares of ARVN stock opened at $19.17 on Thursday. The company’s fifty day moving average price is $23.60 and its 200-day moving average price is $25.13. The stock has a market cap of $1.32 billion, a PE ratio of -4.10 and a beta of 1.82. Arvinas has a 12 month low of $17.37 and a 12 month high of $53.08.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.20. The business had revenue of $102.40 million during the quarter, compared to analysts’ expectations of $60.56 million. During the same quarter last year, the company posted ($1.18) EPS. Arvinas’s revenue for the quarter was up 196.0% compared to the same quarter last year. On average, sell-side analysts forecast that Arvinas will post -3.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on ARVN. BTIG Research initiated coverage on Arvinas in a research note on Tuesday, December 10th. They set a “buy” rating and a $69.00 price objective for the company. BMO Capital Markets dropped their price target on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. HC Wainwright reissued a “buy” rating and issued a $87.00 price target on shares of Arvinas in a report on Wednesday, December 11th. Guggenheim reaffirmed a “buy” rating on shares of Arvinas in a research note on Thursday, December 12th. Finally, Oppenheimer cut their target price on Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Arvinas currently has an average rating of “Moderate Buy” and a consensus price target of $63.50.

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.