Arvinas, Inc. (NASDAQ:ARVN) Short Interest Down 29.9% in March

Arvinas, Inc. (NASDAQ:ARVN) was the target of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 8,900,000 shares, a drop of 29.9% from the February 28th total of 12,700,000 shares. Currently, 13.7% of the company’s stock are short sold. Based on an average daily volume of 1,680,000 shares, the days-to-cover ratio is presently 5.3 days.

Insider Activity at Arvinas

In other Arvinas news, insider Noah Berkowitz sold 8,658 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $8.59, for a total transaction of $74,372.22. Following the completion of the sale, the insider now directly owns 110,023 shares of the company’s stock, valued at approximately $945,097.57. The trade was a 7.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John G. Houston sold 31,338 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.72, for a total value of $523,971.36. Following the completion of the sale, the chief executive officer now directly owns 1,157,480 shares of the company’s stock, valued at approximately $19,353,065.60. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,230 shares of company stock valued at $769,402. 5.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arvinas

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings 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 worth $57,371,000 after purchasing an additional 367,343 shares in the last quarter. BIT Capital GmbH boosted its stake in Arvinas by 291.7% in the fourth quarter. BIT Capital GmbH now owns 263,527 shares of the company’s stock worth $5,052,000 after buying an additional 196,246 shares in the last quarter. Baker BROS. Advisors LP bought a new position in Arvinas during the third quarter valued at approximately $9,989,000. SG Americas Securities LLC raised its stake in shares of Arvinas by 228.8% during the fourth quarter. SG Americas Securities LLC now owns 32,424 shares of the company’s stock worth $622,000 after acquiring an additional 22,564 shares in the last quarter. Finally, Wasatch Advisors LP lifted its holdings in shares of Arvinas by 58.3% in the 3rd quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock worth $10,737,000 after acquiring an additional 160,510 shares during the last quarter. 95.19% of the stock is owned by hedge funds and other institutional investors.

Arvinas Price Performance

Arvinas stock opened at $7.02 on Tuesday. The firm has a market capitalization of $482.78 million, a P/E ratio of -2.53 and a beta of 1.95. Arvinas has a one year low of $6.88 and a one year high of $41.34. The business has a fifty day moving average price of $15.05 and a 200-day moving average price of $20.51.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Tuesday, February 11th. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($1.07) by $0.44. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. During the same period in the prior year, the company posted ($2.53) earnings per share. Sell-side analysts expect that Arvinas will post -3.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ARVN has been the subject of several recent analyst reports. Citigroup reduced their target price on shares of Arvinas from $28.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. HC Wainwright reiterated a “buy” rating and issued a $81.00 price objective on shares of Arvinas in a research note on Tuesday, March 11th. Stifel Nicolaus cut their target price on Arvinas from $63.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Guggenheim reduced their target price on Arvinas from $57.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Finally, Oppenheimer lowered Arvinas from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 11th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $35.50.

About Arvinas

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.