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

Arvinas, Inc. (NASDAQ:ARVNGet Free Report) saw a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 7,920,000 shares, a decrease of 5.1% from the February 29th total of 8,350,000 shares. Based on an average trading volume of 750,200 shares, the days-to-cover ratio is currently 10.6 days.

Insiders Place Their Bets

In other Arvinas news, CEO John G. Houston sold 5,196 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $47.05, for a total transaction of $244,471.80. Following the completion of the sale, the chief executive officer now directly owns 1,036,681 shares in the company, valued at $48,775,841.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO John G. Houston sold 5,196 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $47.05, for a total value of $244,471.80. Following the completion of the sale, the chief executive officer now owns 1,036,681 shares in the company, valued at $48,775,841.05. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ronald Peck sold 1,699 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $47.05, for a total value of $79,937.95. Following the completion of the sale, the insider now owns 67,516 shares of the company’s stock, valued at approximately $3,176,627.80. The disclosure for this sale can be found here. Insiders sold 8,597 shares of company stock worth $404,489 over the last three months. 2.55% of the stock is owned by insiders.

Institutional Trading of Arvinas

Hedge funds and other institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC bought a new stake in shares of Arvinas in the 1st quarter worth $57,000. Royal Bank of Canada raised its stake in shares of Arvinas by 37.6% in the 3rd quarter. Royal Bank of Canada now owns 1,230 shares of the company’s stock worth $54,000 after buying an additional 336 shares in the last quarter. Pathstone Family Office LLC bought a new stake in shares of Arvinas in the 4th quarter worth $207,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Arvinas by 96.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,374 shares of the company’s stock worth $27,000 after buying an additional 674 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Arvinas by 1,015.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,383 shares of the company’s stock worth $34,000 after buying an additional 1,259 shares in the last quarter. Institutional investors own 95.19% of the company’s stock.

Arvinas Price Performance

Shares of NASDAQ ARVN opened at $39.04 on Wednesday. Arvinas has a 12-month low of $13.57 and a 12-month high of $53.08. The stock’s 50 day simple moving average is $45.15 and its 200 day simple moving average is $32.91.

Arvinas (NASDAQ:ARVNGet Free Report) last posted its earnings results on Tuesday, February 27th. The company reported ($2.53) EPS for the quarter, missing the consensus estimate of ($1.15) by ($1.38). Arvinas had a negative net margin of 185.09% and a negative return on equity of 70.24%. The business had revenue of ($43.10) million during the quarter, compared to analyst estimates of $38.91 million. During the same quarter in the prior year, the business earned ($1.56) earnings per share. Sell-side analysts expect that Arvinas will post -5.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ARVN. HC Wainwright reissued a “buy” rating and issued a $90.00 price target on shares of Arvinas in a report on Wednesday, February 28th. The Goldman Sachs Group began coverage on Arvinas in a report on Thursday, February 1st. They issued a “buy” rating and a $70.00 price target for the company. Citigroup downgraded Arvinas from a “buy” rating to a “neutral” rating and increased their price target for the company from $36.00 to $55.00 in a report on Wednesday, February 14th. Jefferies Financial Group raised Arvinas from a “hold” rating to a “buy” rating and increased their price target for the company from $32.00 to $40.00 in a report on Wednesday, December 6th. Finally, Barclays increased their price target on Arvinas from $26.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Arvinas currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.93.

Read Our Latest Stock Analysis on ARVN

About Arvinas

(Get Free Report)

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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