Arvinas, Inc. (NASDAQ:ARVN) Short Interest Up 9.3% in June

Arvinas, Inc. (NASDAQ:ARVN) saw a significant increase in short interest in June. As of June 15th, there was short interest totalling 9,020,000 shares, an increase of 9.3% from the May 31st total of 8,250,000 shares. Based on an average daily trading volume, of 729,400 shares, the days-to-cover ratio is presently 12.4 days.

Institutional Investors Weigh In On Arvinas

Large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Arvinas by 29.9% in the 1st quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company’s stock valued at $260,046,000 after purchasing an additional 1,448,166 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Arvinas by 14.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,368,418 shares of the company’s stock valued at $180,329,000 after buying an additional 536,295 shares during the period. RTW Investments LP bought a new stake in shares of Arvinas during the fourth quarter worth $173,427,000. Avidity Partners Management LP raised its holdings in shares of Arvinas by 14.2% during the fourth quarter. Avidity Partners Management LP now owns 2,985,117 shares of the company’s stock worth $122,867,000 after acquiring an additional 370,157 shares during the period. Finally, Bellevue Group AG lifted its position in Arvinas by 18.0% in the 4th quarter. Bellevue Group AG now owns 2,507,731 shares of the company’s stock valued at $103,218,000 after acquiring an additional 382,531 shares in the last quarter. 95.19% of the stock is currently owned by institutional investors.

Arvinas Stock Performance

Shares of NASDAQ:ARVN opened at $23.90 on Thursday. The company has a 50 day moving average price of $29.81 and a two-hundred day moving average price of $37.58. The company has a market capitalization of $1.64 billion, a PE ratio of -4.03 and a beta of 1.98. Arvinas has a 52 week low of $13.57 and a 52 week high of $53.08.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.97) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.42) by $0.45. The firm had revenue of $25.30 million during the quarter, compared to analyst estimates of $32.94 million. Arvinas’s quarterly revenue was down 22.2% on a year-over-year basis. During the same period last year, the firm earned ($1.54) EPS. On average, sell-side analysts forecast that Arvinas will post -4.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

ARVN has been the topic of several research reports. Truist Financial reiterated a “buy” rating and set a $65.00 price target on shares of Arvinas in a research report on Monday, March 25th. Stifel Nicolaus reduced their target price on shares of Arvinas from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Wedbush reissued an “outperform” rating and issued a $57.00 price target on shares of Arvinas in a report on Wednesday, May 8th. HC Wainwright restated a “buy” rating and issued a $87.00 price objective on shares of Arvinas in a research report on Friday, May 17th. Finally, Wells Fargo & Company decreased their price objective on Arvinas from $63.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.13.

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.