Short Interest in Arvinas, Inc. (NASDAQ:ARVN) Decreases By 5.6%

Arvinas, Inc. (NASDAQ:ARVN) was the recipient of a significant decline in short interest in 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 short-interest ratio is presently 16.1 days.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a report on Monday, September 9th. Wedbush restated an “outperform” rating and set a $57.00 target price on shares of Arvinas in a report on Tuesday, July 30th. HC Wainwright restated a “buy” rating and issued a $87.00 price target on shares of Arvinas in a research report on Thursday, October 31st. Stephens assumed coverage on Arvinas in a research report on Monday. They set an “overweight” rating and a $55.00 price objective for the company. 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 report on Thursday, October 31st. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.62.

Institutional Trading of Arvinas

A number of institutional investors have recently bought and sold shares of the company. nVerses Capital LLC purchased a new stake in shares of Arvinas during the 3rd quarter worth about $39,000. Quest Partners LLC acquired a new position in Arvinas in the second quarter worth approximately $42,000. Amalgamated Bank raised its position in Arvinas by 29.6% during the second quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock valued at $59,000 after acquiring an additional 508 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Arvinas by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock valued at $61,000 after acquiring an additional 440 shares during the last quarter. Finally, Quantbot Technologies LP grew its position in Arvinas by 147.3% in the third quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock worth $108,000 after acquiring an additional 2,601 shares in the last quarter. Institutional investors and hedge funds own 95.19% of the company’s stock.

Arvinas Price Performance

Shares of ARVN opened at $21.64 on Wednesday. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -4.63 and a beta of 1.96. The business’s 50-day moving average is $25.66 and its 200-day moving average is $27.09. Arvinas has a fifty-two week low of $20.28 and a fifty-two week high of $53.08.

Arvinas (NASDAQ:ARVN) last released its earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.20. The company had revenue of $102.40 million during the quarter, compared to analysts’ expectations of $60.56 million. During the same quarter in the previous year, the company earned ($1.18) EPS. The firm’s quarterly revenue was up 196.0% compared to the same quarter last year. Equities research analysts expect that Arvinas will post -3.32 earnings per share for the current fiscal year.

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.