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

Arvinas, Inc. (NASDAQ:ARVN) was the target of a large increase in short interest during the month of 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 daily volume of 577,200 shares, the short-interest ratio is currently 15.6 days.

Wall Street Analyst Weigh In

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

Arvinas Stock Performance

Shares of ARVN stock opened at $18.99 on Tuesday. The stock has a market cap of $1.30 billion, a PE ratio of -4.07 and a beta of 1.82. The business’s fifty day moving average is $25.39 and its 200-day moving average is $25.86. Arvinas has a 1 year low of $18.51 and a 1 year 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 firm had revenue of $102.40 million for the quarter, compared to analyst estimates of $60.56 million. During the same period in the previous year, the firm earned ($1.18) earnings per share. Arvinas’s revenue was up 196.0% on a year-over-year basis. Equities research analysts predict that Arvinas will post -3.22 earnings per share for the current year.

Institutional Trading of Arvinas

Large investors have recently added to or reduced their stakes in the business. Braidwell LP increased its stake in 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 in the last quarter. Baker BROS. Advisors LP purchased a new position in shares of Arvinas in the third quarter worth approximately $9,989,000. FMR LLC increased its position in shares of Arvinas by 7.6% in the third quarter. FMR LLC now owns 2,883,604 shares of the company’s stock worth $71,023,000 after acquiring an additional 204,317 shares in the last quarter. Wasatch Advisors LP raised its holdings in shares of Arvinas by 58.3% during the third quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock valued at $10,737,000 after acquiring an additional 160,510 shares during the period. Finally, Candriam S.C.A. lifted its position in shares of Arvinas by 32.0% in the 2nd quarter. Candriam S.C.A. now owns 610,458 shares of the company’s stock valued at $16,250,000 after acquiring an additional 147,904 shares in the last quarter. 95.19% of the stock is currently owned by 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.