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

Arvinas, Inc. (NASDAQ:ARVN - Get Free Report) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 8,800,000 shares, a drop of 5.6% from the October 15th total of 9,320,000 shares. Based on an average daily volume of 545,500 shares, the short-interest ratio is presently 16.1 days.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ARVN shares. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Arvinas in a report on Monday, September 9th. HC Wainwright reaffirmed a "buy" rating and set a $87.00 price target on shares of Arvinas in a report on Thursday, October 31st. Barclays decreased their price objective on shares of Arvinas from $60.00 to $48.00 and set an "overweight" rating for the company in a report on Wednesday, July 31st. Oppenheimer dropped their target price on shares of Arvinas from $50.00 to $40.00 and set an "outperform" rating on the stock in a report on Thursday, October 31st. Finally, Stephens assumed coverage on shares of Arvinas in a research note on Monday. They set an "overweight" rating and a $55.00 target price for the company. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.62.

Hedge Funds Weigh In On Arvinas

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Arvinas by 29.9% in the 1st quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company's stock worth $260,046,000 after purchasing an additional 1,448,166 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Arvinas by 14.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,368,418 shares of the company's stock worth $180,329,000 after acquiring an additional 536,295 shares during the last quarter. FMR LLC grew its stake in Arvinas by 7.6% during the third quarter. FMR LLC now owns 2,883,604 shares of the company's stock valued at $71,023,000 after acquiring an additional 204,317 shares in the last quarter. Braidwell LP increased its holdings in Arvinas by 148.3% in the 3rd quarter. Braidwell LP now owns 1,284,472 shares of the company's stock valued at $31,637,000 after acquiring an additional 767,242 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC lifted its stake in Arvinas by 1.4% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,244,450 shares of the company's stock worth $30,651,000 after purchasing an additional 17,723 shares in the last quarter. Institutional investors own 95.19% of the company's stock.

Arvinas Trading Up 3.2 %

NASDAQ ARVN traded up $0.71 on Monday, reaching $23.19. 775,706 shares of the stock were exchanged, compared to its average volume of 716,041. The firm has a market capitalization of $1.59 billion, a PE ratio of -4.97 and a beta of 1.96. Arvinas has a one year low of $20.28 and a one year high of $53.08. The company's 50-day simple moving average is $25.74 and its two-hundred day simple moving average is $27.17.

Arvinas (NASDAQ:ARVN - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share for the quarter, beating analysts' consensus estimates of ($0.88) by $0.20. The firm had revenue of $102.40 million for the quarter, compared to analysts' expectations of $60.56 million. The firm's quarterly revenue was up 196.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.18) EPS. Sell-side analysts forecast that Arvinas will post -3.32 earnings per share for the current fiscal year.

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.