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

Arvinas, Inc. (NASDAQ:ARVN - Get Free Report) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 9,610,000 shares, a growth of 6.5% from the November 30th total of 9,020,000 shares. Based on an average trading volume of 719,200 shares, the short-interest ratio is currently 13.4 days.

Hedge Funds Weigh In On Arvinas

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its holdings in Arvinas by 32.6% in the second quarter. Bank of New York Mellon Corp now owns 235,096 shares of the company's stock valued at $6,258,000 after buying an additional 57,835 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Arvinas by 13.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 14,298 shares of the company's stock worth $381,000 after purchasing an additional 1,728 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Arvinas by 30.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,062 shares of the company's stock worth $268,000 after purchasing an additional 2,363 shares during the period. Rhumbline Advisers boosted its position in Arvinas by 26.7% during the second quarter. Rhumbline Advisers now owns 90,229 shares of the company's stock worth $2,402,000 after purchasing an additional 19,024 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Arvinas by 38.3% in the second quarter. Victory Capital Management Inc. now owns 53,912 shares of the company's stock valued at $1,435,000 after purchasing an additional 14,924 shares during the period. Institutional investors and hedge funds own 95.19% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Stephens began coverage on Arvinas in a research note on Monday, November 18th. They issued an "overweight" rating and a $55.00 target price for the company. Guggenheim reissued a "buy" rating on shares of Arvinas in a research note on Thursday, December 12th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Arvinas in a research note on Monday, September 9th. HC Wainwright reissued a "buy" rating and set a $87.00 price target on shares of Arvinas in a research report on Wednesday, December 11th. Finally, 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 target on the stock. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $63.50.

Arvinas Stock Performance

ARVN stock traded up $0.17 during trading on Tuesday, reaching $19.17. 1,201,987 shares of the company traded hands, compared to its average volume of 740,985. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -4.10 and a beta of 1.82. The business has a 50 day simple moving average of $23.75 and a 200 day simple moving average of $25.17. Arvinas has a 12 month low of $17.37 and a 12 month high of $53.08.

Arvinas (NASDAQ:ARVN - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, beating the consensus estimate of ($0.88) by $0.20. The business had revenue of $102.40 million for the quarter, compared to analysts' expectations of $60.56 million. During the same quarter in the prior year, the company posted ($1.18) EPS. The business's revenue for the quarter was up 196.0% on a year-over-year basis. As a group, research analysts forecast that Arvinas will post -3.22 EPS for the current year.

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.