Arvinas, Inc. (NASDAQ:ARVN – Get Free Report) was the target of a large growth in short interest in the month of 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 trading volume of 850,200 shares, the short-interest ratio is presently 12.5 days.
Institutional Investors Weigh In On Arvinas
Institutional investors have recently added to or reduced their stakes in the stock. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Arvinas during the 1st quarter valued at approximately $44,000. Headlands Technologies LLC increased its stake in Arvinas by 393.4% in the fourth quarter. Headlands Technologies LLC now owns 2,388 shares of the company’s stock worth $98,000 after purchasing an additional 1,904 shares during the period. Contravisory Investment Management Inc. purchased a new stake in Arvinas in the second quarter worth $185,000. Personal CFO Solutions LLC purchased a new position in shares of Arvinas during the fourth quarter valued at $206,000. Finally, Cullinan Associates Inc. purchased a new position in shares of Arvinas during the first quarter valued at $248,000. 95.19% of the stock is owned by hedge funds and other institutional investors.
Arvinas Trading Down 3.8 %
Arvinas stock traded down $1.05 during midday trading on Tuesday, hitting $26.73. The stock had a trading volume of 897,546 shares, compared to its average volume of 773,979. The firm’s fifty day moving average is $28.41 and its two-hundred day moving average is $36.12. Arvinas has a 52-week low of $13.57 and a 52-week high of $53.08.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Arvinas from $63.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, May 9th. Wedbush restated an “outperform” rating and set a $57.00 target price on shares of Arvinas in a research note on Wednesday, May 8th. Stifel Nicolaus lowered their target price on shares of Arvinas from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Finally, HC Wainwright restated a “buy” rating and set a $87.00 target price on shares of Arvinas in a research note on Friday, May 17th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Arvinas presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.13.
View Our Latest Research Report on Arvinas
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.
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