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

Arvinas, Inc. (NASDAQ:ARVN) was the target of a large growth in short interest in July. As of July 15th, there was short interest totalling 10,640,000 shares, a growth of 11.5% from the June 30th total of 9,540,000 shares. Based on an average daily volume of 850,200 shares, the short-interest ratio is currently 12.5 days.

Arvinas Trading Down 6.3 %

Shares of ARVN traded down $1.87 during mid-day trading on Monday, reaching $27.78. The company’s stock had a trading volume of 596,510 shares, compared to its average volume of 773,121. The stock has a market cap of $1.90 billion, a P/E ratio of -4.72 and a beta of 1.98. Arvinas has a 1-year low of $13.57 and a 1-year high of $53.08. The business has a 50-day simple moving average of $28.52 and a two-hundred day simple moving average of $36.19.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.97) EPS for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.45. The company had revenue of $25.30 million for the quarter, compared to the consensus estimate of $32.94 million. The company’s revenue for the quarter was down 22.2% compared to the same quarter last year. During the same period last year, the firm earned ($1.54) earnings per share. Research analysts anticipate that Arvinas will post -4.08 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on ARVN shares. HC Wainwright restated a “buy” rating and set a $87.00 target price on shares of Arvinas in a report on Friday, May 17th. Wells Fargo & Company cut their price objective on shares of Arvinas from $63.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, May 9th. Wedbush reiterated an “outperform” rating and set a $57.00 target price on shares of Arvinas in a report on Wednesday, May 8th. Finally, Stifel Nicolaus dropped their price target on Arvinas from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $61.13.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ARVN. Panagora Asset Management Inc. boosted its holdings in shares of Arvinas by 57.4% during the second quarter. Panagora Asset Management Inc. now owns 256,658 shares of the company’s stock worth $6,832,000 after acquiring an additional 93,568 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Arvinas by 30.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,062 shares of the company’s stock valued at $268,000 after purchasing an additional 2,363 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Arvinas by 13.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 14,298 shares of the company’s stock worth $381,000 after buying an additional 1,728 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Arvinas by 32.6% in the second quarter. Bank of New York Mellon Corp now owns 235,096 shares of the company’s stock valued at $6,258,000 after acquiring an additional 57,835 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its position in shares of Arvinas by 6.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 65,907 shares of the company’s stock valued at $1,754,000 after acquiring an additional 4,045 shares during the period. Institutional investors and hedge funds own 95.19% of the company’s stock.

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.