Short Interest in Arvinas, Inc. (NASDAQ:ARVN) Increases By 5.6%

Arvinas, Inc. (NASDAQ:ARVN - Get Free Report) saw a significant increase in short interest in November. As of November 30th, there was short interest totalling 9,020,000 shares, an increase of 5.6% from the November 15th total of 8,540,000 shares. Based on an average trading volume of 577,200 shares, the days-to-cover ratio is currently 15.6 days.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ARVN shares. BTIG Research started coverage on shares of Arvinas in a report on Tuesday, December 10th. They issued a "buy" rating and a $69.00 price objective on the stock. Stephens initiated coverage on Arvinas in a report on Monday, November 18th. They issued an "overweight" rating and a $55.00 price target for the company. HC Wainwright reaffirmed a "buy" rating and issued a $87.00 price objective on shares of Arvinas in a research note on Wednesday, December 11th. Oppenheimer dropped their price objective on shares of Arvinas from $50.00 to $40.00 and set an "outperform" rating for the company in a research note on Thursday, October 31st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Arvinas in a research note on Monday, September 9th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Arvinas presently has a consensus rating of "Moderate Buy" and an average target price of $63.50.

Arvinas Price Performance

Shares of NASDAQ:ARVN traded down $0.51 during midday trading on Monday, reaching $18.99. The company's stock had a trading volume of 1,289,474 shares, compared to its average volume of 726,297. The business's fifty day simple moving average is $25.52 and its 200-day simple moving average is $25.96. Arvinas has a fifty-two week low of $18.51 and a fifty-two week high of $53.08. The company has a market capitalization of $1.30 billion, a P/E ratio of -4.07 and a beta of 1.82.

Arvinas (NASDAQ:ARVN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.88) by $0.20. The firm had revenue of $102.40 million for the quarter, compared to analyst estimates of $60.56 million. The company's revenue was up 196.0% compared to the same quarter last year. During the same period last year, the company earned ($1.18) EPS. On average, analysts forecast that Arvinas will post -3.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arvinas

Several large investors have recently bought and sold shares of ARVN. Braidwell LP grew its holdings in Arvinas by 148.3% during the third quarter. Braidwell LP now owns 1,284,472 shares of the company's stock valued at $31,637,000 after purchasing an additional 767,242 shares during the period. Baker BROS. Advisors LP acquired a new stake in Arvinas during the 3rd quarter worth $9,989,000. FMR LLC lifted its holdings in Arvinas by 7.6% during the third quarter. FMR LLC now owns 2,883,604 shares of the company's stock worth $71,023,000 after acquiring an additional 204,317 shares in the last quarter. Wasatch Advisors LP increased its holdings in shares of Arvinas by 58.3% in the third quarter. Wasatch Advisors LP now owns 435,943 shares of the company's stock worth $10,737,000 after acquiring an additional 160,510 shares in the last quarter. Finally, Candriam S.C.A. increased its holdings in shares of Arvinas by 32.0% in the second quarter. Candriam S.C.A. now owns 610,458 shares of the company's stock worth $16,250,000 after acquiring an additional 147,904 shares in the last quarter. 95.19% of the stock is currently owned by institutional investors and hedge funds.

Arvinas Company Profile

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.