Arvinas, Inc. (NASDAQ:ARVN) Sees Large Decline in Short Interest

Arvinas, Inc. (NASDAQ:ARVN) was the target of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 8,900,000 shares, a decrease of 29.9% from the February 28th total of 12,700,000 shares. Based on an average daily volume of 1,680,000 shares, the days-to-cover ratio is presently 5.3 days. Currently, 13.7% of the shares of the stock are short sold.

Insider Buying and Selling

In other news, CEO John G. Houston sold 31,338 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $16.72, for a total value of $523,971.36. Following the completion of the sale, the chief executive officer now directly owns 1,157,480 shares of the company’s stock, valued at approximately $19,353,065.60. This represents a 2.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Noah Berkowitz sold 8,658 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $8.59, for a total value of $74,372.22. Following the sale, the insider now directly owns 110,023 shares in the company, valued at approximately $945,097.57. The trade was a 7.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,230 shares of company stock valued at $769,402 over the last 90 days. 5.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arvinas

A number of large investors have recently added to or reduced their stakes in ARVN. Vanguard Group Inc. grew its stake in Arvinas by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 7,062,561 shares of the company’s stock valued at $135,389,000 after buying an additional 56,561 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Arvinas by 6.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,103,011 shares of the company’s stock valued at $78,656,000 after purchasing an additional 249,295 shares during the last quarter. RTW Investments LP increased its stake in shares of Arvinas by 19.8% in the fourth quarter. RTW Investments LP now owns 3,334,308 shares of the company’s stock worth $63,919,000 after purchasing an additional 551,979 shares during the period. FMR LLC lifted its position in shares of Arvinas by 7.6% during the 3rd quarter. FMR LLC now owns 2,883,604 shares of the company’s stock worth $71,023,000 after purchasing an additional 204,317 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Arvinas by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock valued at $57,371,000 after purchasing an additional 367,343 shares during the period. Institutional investors own 95.19% of the company’s stock.

Arvinas Price Performance

Shares of ARVN opened at $7.11 on Monday. The business’s 50-day moving average is $15.27 and its 200-day moving average is $20.64. The company has a market capitalization of $488.97 million, a price-to-earnings ratio of -2.55 and a beta of 1.95. Arvinas has a fifty-two week low of $7.04 and a fifty-two week high of $41.34.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($1.07) by $0.44. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same period last year, the firm posted ($2.53) EPS. Equities research analysts expect that Arvinas will post -3.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on ARVN. BMO Capital Markets set a $20.00 price target on shares of Arvinas and gave the stock an “outperform” rating in a research report on Wednesday, March 12th. Wells Fargo & Company set a $26.00 target price on shares of Arvinas and gave the stock an “overweight” rating in a report on Wednesday, March 12th. BTIG Research began coverage on shares of Arvinas in a research report on Tuesday, December 10th. They issued a “buy” rating and a $69.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $81.00 price target on shares of Arvinas in a report on Tuesday, March 11th. Finally, Stifel Nicolaus decreased their target price on Arvinas from $63.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.50.

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.