Short Interest in Arvinas, Inc. (NASDAQ:ARVN) Increases By 10.3%

Arvinas, Inc. (NASDAQ:ARVN) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totalling 13,180,000 shares, an increase of 10.3% from the August 15th total of 11,950,000 shares. Based on an average trading volume of 775,800 shares, the short-interest ratio is currently 17.0 days.

Institutional Investors Weigh In On Arvinas

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. American International Group Inc. boosted its holdings in shares of Arvinas by 1.8% in the 1st quarter. American International Group Inc. now owns 24,857 shares of the company’s stock worth $1,026,000 after buying an additional 449 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Arvinas by 3.8% in the 1st quarter. Principal Financial Group Inc. now owns 13,307 shares of the company’s stock worth $549,000 after purchasing an additional 486 shares during the period. Amalgamated Bank lifted its stake in Arvinas by 29.6% in the second quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock valued at $59,000 after purchasing an additional 508 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Arvinas by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 12,570 shares of the company’s stock valued at $519,000 after purchasing an additional 1,060 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Arvinas in the first quarter worth $44,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Trading Up 0.4 %

Arvinas stock traded up $0.10 during trading on Monday, hitting $25.15. 401,292 shares of the company were exchanged, compared to its average volume of 747,531. The business’s 50 day moving average is $26.50 and its 200 day moving average is $31.62. Arvinas has a 52 week low of $13.57 and a 52 week high of $53.08. The company has a market capitalization of $1.72 billion, a P/E ratio of -4.28 and a beta of 1.97.

Arvinas (NASDAQ:ARVN) last announced its earnings results on Tuesday, July 30th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($1.08) by $0.59. The firm had revenue of $76.50 million during the quarter, compared to analysts’ expectations of $33.27 million. During the same quarter in the prior year, the company earned ($1.25) EPS. The business’s revenue for the quarter was up 40.4% on a year-over-year basis. Equities analysts expect that Arvinas will post -3.51 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. HC Wainwright restated a “buy” rating and set a $87.00 target price on shares of Arvinas in a research report on Thursday, August 1st. Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a report on Monday, September 9th. Barclays lowered their price objective on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Wedbush reiterated an “outperform” rating and set a $57.00 target price on shares of Arvinas in a research report on Tuesday, July 30th. Finally, Oppenheimer reduced their price target on shares of Arvinas from $70.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.50.

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.