Short Interest in Arvinas, Inc. (NASDAQ:ARVN) Drops By 27.9%

Arvinas, Inc. (NASDAQ:ARVN) was the recipient of a large decline in short interest in the month of December. As of December 31st, there was short interest totaling 4,859,281 shares, a decline of 27.9% from the December 15th total of 6,742,263 shares. Currently, 7.9% of the company’s shares are sold short. Based on an average daily volume of 783,267 shares, the short-interest ratio is currently 6.2 days. Based on an average daily volume of 783,267 shares, the short-interest ratio is currently 6.2 days. Currently, 7.9% of the company’s shares are sold short.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its holdings in shares of Arvinas by 491.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock worth $43,000 after acquiring an additional 4,835 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Arvinas by 109.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock worth $49,000 after purchasing an additional 3,500 shares in the last quarter. State of Wyoming purchased a new stake in shares of Arvinas in the third quarter worth approximately $68,000. Public Employees Retirement System of Ohio bought a new position in shares of Arvinas in the second quarter valued at approximately $74,000. Finally, Virtus Investment Advisers LLC boosted its position in shares of Arvinas by 49.3% during the second quarter. Virtus Investment Advisers LLC now owns 12,422 shares of the company’s stock valued at $91,000 after buying an additional 4,104 shares during the last quarter. 95.19% of the stock is owned by institutional investors.

Arvinas Stock Performance

ARVN stock opened at $12.20 on Friday. The stock’s 50 day simple moving average is $11.97 and its 200 day simple moving average is $9.51. The company has a market cap of $783.53 million, a P/E ratio of -15.06 and a beta of 1.89. Arvinas has a fifty-two week low of $5.90 and a fifty-two week high of $20.38.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.27. Arvinas had a negative return on equity of 9.77% and a negative net margin of 18.73%.The firm had revenue of $41.90 million during the quarter, compared to the consensus estimate of $29.36 million. During the same quarter in the previous year, the company posted ($0.68) earnings per share. The company’s quarterly revenue was down 59.1% on a year-over-year basis. Equities analysts predict that Arvinas will post -3.81 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ARVN. Stephens lifted their target price on shares of Arvinas from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Bank of America lowered Arvinas from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research report on Wednesday, September 24th. Citigroup raised Arvinas from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $10.00 to $15.00 in a research note on Tuesday, January 6th. BTIG Research raised their target price on Arvinas from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Piper Sandler reissued an “overweight” rating and issued a $16.00 price target on shares of Arvinas in a research note on Tuesday, October 7th. Twelve equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $16.79.

About Arvinas

Arvinas, Inc (NASDAQ: ARVN) is a biopharmaceutical company focused on the development of therapies based on targeted protein degradation. Utilizing its proprietary proteolysis-targeting chimera (PROTAC®) platform, Arvinas aims to selectively eliminate disease-causing proteins rather than merely inhibit their activity. This novel approach has the potential to address a range of diseases, including oncology, neurodegeneration and inflammation, by harnessing the body’s natural protein-recycling systems.

The company’s most advanced clinical candidates address hormone-driven cancers.