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

Arvinas, Inc. (NASDAQ:ARVNGet Rating) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 5,490,000 shares, a growth of 8.5% from the August 15th total of 5,060,000 shares. Based on an average daily volume of 405,400 shares, the days-to-cover ratio is presently 13.5 days. Currently, 12.0% of the shares of the stock are short sold.

Arvinas Price Performance

Shares of ARVN stock opened at $47.14 on Wednesday. The stock has a 50 day simple moving average of $49.19 and a 200-day simple moving average of $51.94. Arvinas has a 1-year low of $34.90 and a 1-year high of $97.33. The company has a market cap of $2.51 billion, a price-to-earnings ratio of -10.57 and a beta of 2.06.

Arvinas (NASDAQ:ARVNGet Rating) last issued its earnings results on Thursday, August 4th. The company reported ($1.32) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.30). The business had revenue of $31.30 million for the quarter, compared to analyst estimates of $23.71 million. Arvinas had a negative return on equity of 31.16% and a negative net margin of 255.97%. Arvinas’s revenue was up 469.1% on a year-over-year basis. During the same period last year, the business posted ($1.03) EPS. Analysts anticipate that Arvinas will post -4.73 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Ronald Peck sold 1,258 shares of the stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $68.99, for a total transaction of $86,789.42. Following the sale, the insider now directly owns 8,154 shares of the company’s stock, valued at $562,544.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.78% of the stock is owned by insiders.

Hedge Funds Weigh In On Arvinas

A number of institutional investors have recently made changes to their positions in the stock. Brown Advisory Inc. purchased a new stake in shares of Arvinas in the second quarter worth about $12,133,000. Nextech Invest AG acquired a new stake in shares of Arvinas during the 4th quarter worth approximately $23,595,000. JPMorgan Chase & Co. grew its holdings in Arvinas by 14.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,160,597 shares of the company’s stock worth $90,941,000 after buying an additional 280,691 shares in the last quarter. Frazier Life Sciences Management L.P. bought a new position in Arvinas in the 1st quarter worth approximately $18,193,000. Finally, Paradigm Biocapital Advisors LP boosted its stake in Arvinas by 83.0% during the 1st quarter. Paradigm Biocapital Advisors LP now owns 491,333 shares of the company’s stock valued at $33,067,000 after purchasing an additional 222,814 shares in the last quarter. 91.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. HC Wainwright reduced their price objective on shares of Arvinas from $135.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, August 5th. Jefferies Financial Group began coverage on shares of Arvinas in a report on Tuesday, June 21st. They issued a “hold” rating and a $42.00 target price on the stock. Citigroup dropped their price objective on shares of Arvinas from $103.00 to $88.00 in a report on Thursday, August 18th. Cantor Fitzgerald lowered their price target on shares of Arvinas from $140.00 to $115.00 in a research note on Friday, August 5th. Finally, The Goldman Sachs Group decreased their price objective on shares of Arvinas from $111.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, May 24th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $82.13.

Arvinas Company Profile

(Get Rating)

Arvinas, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its lead product candidates include Bavdegalutamide, a proteolysis targeting chimera (PROTAC) protein degrader that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer (mCRPC); ARV-471, a PROTAC protein degrader targeting the estrogen receptor protein for the treatment of patients with metastatic ER positive/HER2 negative breast cancer; and ARV-766 an investigational orally bioavailable PROTAC protein degrader for the treatment of men with mCRPC.

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