Arvinas, Inc. (NASDAQ:ARVN) Short Interest Up 10.3% in August

Arvinas, Inc. (NASDAQ:ARVN) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 13,180,000 shares, an increase of 10.3% from the August 15th total of 11,950,000 shares. Based on an average trading volume of 775,800 shares, the short-interest ratio is presently 17.0 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ARVN. RTW Investments LP acquired a new stake in Arvinas in the 4th quarter valued at about $173,427,000. Vanguard Group Inc. raised its holdings in Arvinas by 29.9% in the first quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company’s stock valued at $260,046,000 after acquiring an additional 1,448,166 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Arvinas by 42.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,832,123 shares of the company’s stock worth $157,731,000 after acquiring an additional 1,143,452 shares during the last quarter. Commodore Capital LP purchased a new stake in shares of Arvinas in the 4th quarter valued at approximately $41,160,000. Finally, Norges Bank acquired a new position in shares of Arvinas during the fourth quarter worth $36,126,000. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

Arvinas Trading Up 0.4 %

ARVN opened at $25.15 on Tuesday. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -4.24 and a beta of 1.97. The stock’s 50-day moving average price is $26.50 and its 200 day moving average price is $31.62. Arvinas has a 12-month low of $13.57 and a 12-month high of $53.08.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings results on Tuesday, July 30th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($1.08) by $0.59. The business had revenue of $76.50 million during the quarter, compared to analysts’ expectations of $33.27 million. The business’s quarterly revenue was up 40.4% on a year-over-year basis. During the same period in the prior year, the business earned ($1.25) EPS. On average, research analysts forecast that Arvinas will post -3.51 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Oppenheimer reduced their price objective on shares of Arvinas from $70.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Barclays decreased their price target on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Wedbush reiterated an “outperform” rating and set a $57.00 price objective on shares of Arvinas in a research note on Tuesday, July 30th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a report on Monday, September 9th. Finally, HC Wainwright reiterated a “buy” rating and set a $87.00 price target on shares of Arvinas in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.50.

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.