Arvinas, Inc. (NASDAQ:ARVN) Short Interest Update

Arvinas, Inc. (NASDAQ:ARVN) saw a large drop in short interest during 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. Based on an average daily volume of 1,680,000 shares, the short-interest ratio is currently 5.3 days. Approximately 13.7% of the shares of the company are short sold.

Arvinas Trading Down 6.3 %

Arvinas stock opened at $7.11 on Monday. The business has a 50-day moving average of $15.27 and a 200-day moving average of $20.64. Arvinas has a 1 year low of $7.04 and a 1 year high of $41.34. The firm has a market capitalization of $488.97 million, a P/E ratio of -2.55 and a beta of 1.95.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, topping 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 period last year, the firm earned ($2.53) EPS. Research analysts anticipate that Arvinas will post -3.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ARVN shares. HC Wainwright restated a “buy” rating and issued a $81.00 price objective on shares of Arvinas in a research note on Tuesday, March 11th. BTIG Research started coverage on Arvinas in a research note on Tuesday, December 10th. They issued a “buy” rating and a $69.00 price objective on the stock. Bank of America lowered their price objective on shares of Arvinas from $54.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Guggenheim reduced their target price on shares of Arvinas from $57.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. Finally, Wedbush lowered shares of Arvinas from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $57.00 to $12.00 in a report on Wednesday, March 12th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Arvinas presently has an average rating of “Moderate Buy” and an average target price of $35.50.

Insiders Place Their Bets

In related news, insider Noah Berkowitz sold 8,658 shares of Arvinas stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $8.59, for a total transaction of $74,372.22. Following the sale, the insider now directly owns 110,023 shares of the company’s stock, valued at $945,097.57. This trade represents a 7.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John G. Houston sold 31,338 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $16.72, for a total value of $523,971.36. Following the transaction, the chief executive officer now 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 50,230 shares of company stock worth $769,402 in the last ninety days. Insiders own 5.23% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARVN. Vanguard Group Inc. raised its holdings in shares of Arvinas by 0.8% during the fourth 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 period. Price T Rowe Associates Inc. MD increased its position in shares of Arvinas by 6.5% during the 4th 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 shares of Arvinas by 19.8% during the 4th 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 in the last quarter. FMR LLC boosted its holdings in shares of 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 buying an additional 204,317 shares during the last quarter. Finally, 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 valued at $57,371,000 after buying an additional 367,343 shares during the last quarter. 95.19% of the stock is owned by institutional investors and hedge funds.

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.