Arvinas, Inc. (NASDAQ:ARVN) Short Interest Update

Arvinas, Inc. (NASDAQ:ARVN) was the recipient of a large decline in short interest in October. As of October 31st, there was short interest totalling 8,800,000 shares, a decline of 5.6% from the October 15th total of 9,320,000 shares. Based on an average trading volume of 545,500 shares, the short-interest ratio is presently 16.1 days.

Arvinas Stock Down 9.8 %

NASDAQ:ARVN opened at $22.48 on Monday. Arvinas has a 52 week low of $19.31 and a 52 week high of $53.08. The company has a market capitalization of $1.54 billion, a P/E ratio of -4.81 and a beta of 1.96. The stock’s fifty day moving average is $25.78 and its two-hundred day moving average is $27.24.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.20. The business had revenue of $102.40 million during the quarter, compared to analysts’ expectations of $60.56 million. During the same quarter in the prior year, the firm earned ($1.18) EPS. Arvinas’s revenue for the quarter was up 196.0% compared to the same quarter last year. Sell-side analysts anticipate that Arvinas will post -3.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arvinas

Institutional investors and hedge funds have recently modified their holdings of the company. Quest Partners LLC purchased a new stake in shares of Arvinas in the 2nd quarter valued at $42,000. nVerses Capital LLC purchased a new stake in shares of Arvinas in the 3rd quarter valued at $39,000. Amalgamated Bank raised its holdings in shares of Arvinas by 29.6% in the 2nd quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock valued at $59,000 after buying an additional 508 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Arvinas by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock valued at $61,000 after buying an additional 440 shares during the period. Finally, Quantbot Technologies LP raised its holdings in shares of Arvinas by 147.3% in the 3rd quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock valued at $108,000 after buying an additional 2,601 shares during the period. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ARVN shares. Barclays reduced their target price on Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. Oppenheimer reduced their target price on Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. HC Wainwright reaffirmed a “buy” rating and set a $87.00 target price on shares of Arvinas in a research report on Thursday, October 31st. Finally, Wedbush reaffirmed an “outperform” rating and set a $57.00 target price on shares of Arvinas in a research report on Tuesday, July 30th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Arvinas presently has a consensus rating of “Moderate Buy” and an average price target of $60.00.

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.