Arvinas, Inc. (NASDAQ:ARVN) Short Interest Up 6.5% in December

Arvinas, Inc. (NASDAQ:ARVN) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 9,610,000 shares, an increase of 6.5% from the November 30th total of 9,020,000 shares. Based on an average daily volume of 719,200 shares, the days-to-cover ratio is presently 13.4 days.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Oppenheimer dropped their target price on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. BTIG Research began coverage on Arvinas in a research report on Tuesday, December 10th. They issued a “buy” rating and a $69.00 price objective on the stock. HC Wainwright restated a “buy” rating and issued a $87.00 price target on shares of Arvinas in a research note on Wednesday, December 11th. Guggenheim reaffirmed a “buy” rating on shares of Arvinas in a report on Thursday, December 12th. Finally, Stephens assumed coverage on Arvinas in a report on Monday, November 18th. They issued an “overweight” rating and a $55.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.50.

Arvinas Stock Performance

Shares of Arvinas stock traded up $0.17 on Wednesday, hitting $19.17. 1,201,987 shares of the company’s stock were exchanged, compared to its average volume of 740,985. Arvinas has a 1 year low of $17.37 and a 1 year high of $53.08. The company has a 50-day simple moving average of $23.75 and a 200-day simple moving average of $25.17. The stock has a market capitalization of $1.32 billion, a PE ratio of -4.10 and a beta of 1.82.

Arvinas (NASDAQ:ARVN) last released its earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share for the quarter, beating the consensus estimate of ($0.88) by $0.20. The company had revenue of $102.40 million for the quarter, compared to analysts’ expectations of $60.56 million. Arvinas’s revenue for the quarter was up 196.0% on a year-over-year basis. During the same quarter last year, the firm posted ($1.18) earnings per share. On average, analysts expect that Arvinas will post -3.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ARVN. Baker BROS. Advisors LP purchased a new position in Arvinas during the third quarter valued at approximately $9,989,000. Wasatch Advisors LP raised its position in shares of Arvinas by 58.3% during the 3rd quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock valued at $10,737,000 after purchasing an additional 160,510 shares during the period. Barclays PLC lifted its stake in shares of Arvinas by 198.9% during the 3rd quarter. Barclays PLC now owns 121,699 shares of the company’s stock valued at $2,998,000 after buying an additional 80,984 shares in the last quarter. Candriam S.C.A. boosted its holdings in Arvinas by 32.0% in the 2nd quarter. Candriam S.C.A. now owns 610,458 shares of the company’s stock worth $16,250,000 after buying an additional 147,904 shares during the period. Finally, Magnetar Financial LLC boosted its holdings in Arvinas by 112.7% in the 2nd quarter. Magnetar Financial LLC now owns 41,992 shares of the company’s stock worth $1,118,000 after buying an additional 22,245 shares during the period. 95.19% of the stock is currently owned by institutional investors.

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.