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

Arvinas, Inc. (NASDAQ:ARVN - Get Free Report) was the target of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 8,900,000 shares, a decrease of 29.9% from the February 28th total of 12,700,000 shares. Based on an average trading volume of 1,680,000 shares, the days-to-cover ratio is currently 5.3 days. Approximately 13.7% of the company's shares are short sold.

Insider Transactions at Arvinas

In other Arvinas news, insider Noah Berkowitz sold 8,658 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $8.59, for a total transaction of $74,372.22. Following the completion of the transaction, the insider now owns 110,023 shares in the company, valued at $945,097.57. The trade was a 7.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ian Taylor sold 9,020 shares of the company's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $16.71, for a total value of $150,724.20. Following the transaction, the insider now directly owns 159,121 shares in the company, valued at approximately $2,658,911.91. This represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,230 shares of company stock worth $769,402. 5.23% of the stock is currently owned by insiders.

Institutional Trading of Arvinas

A number of institutional investors have recently made changes to their positions in ARVN. Invesco Ltd. raised its stake in Arvinas by 1.6% in the fourth quarter. Invesco Ltd. now owns 37,254 shares of the company's stock valued at $714,000 after buying an additional 581 shares during the last quarter. Rhumbline Advisers raised its position in shares of Arvinas by 0.9% in the 4th quarter. Rhumbline Advisers now owns 87,877 shares of the company's stock valued at $1,685,000 after purchasing an additional 754 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Arvinas by 0.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 140,518 shares of the company's stock worth $2,694,000 after purchasing an additional 777 shares in the last quarter. Bank of Montreal Can grew its position in Arvinas by 2.7% during the 4th quarter. Bank of Montreal Can now owns 39,407 shares of the company's stock worth $755,000 after purchasing an additional 1,044 shares during the last quarter. Finally, KBC Group NV increased its stake in Arvinas by 77.0% during the 4th quarter. KBC Group NV now owns 2,885 shares of the company's stock valued at $55,000 after purchasing an additional 1,255 shares in the last quarter. Institutional investors and hedge funds own 95.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ARVN. Oppenheimer cut shares of Arvinas from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 11th. The Goldman Sachs Group lowered shares of Arvinas from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $70.00 to $15.00 in a research report on Thursday, March 13th. Morgan Stanley dropped their price objective on Arvinas from $48.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 13th. Citigroup decreased their target price on Arvinas from $28.00 to $19.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Finally, Wedbush downgraded Arvinas from an "outperform" rating to a "neutral" rating and dropped their price target for the stock from $57.00 to $12.00 in a research report on Wednesday, March 12th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $35.50.

Arvinas Trading Up 2.1 %

Shares of NASDAQ:ARVN traded up $0.15 during trading on Wednesday, reaching $7.18. The stock had a trading volume of 2,075,954 shares, compared to its average volume of 1,020,709. The firm's 50-day simple moving average is $14.60 and its 200 day simple moving average is $20.30. Arvinas has a one year low of $6.82 and a one year high of $39.58. The company has a market capitalization of $493.78 million, a P/E ratio of -2.59 and a beta of 1.95.

Arvinas (NASDAQ:ARVN - Get Free Report) last announced its earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($1.07) by $0.44. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same period in the prior year, the business earned ($2.53) earnings per share. Equities research analysts forecast that Arvinas will post -3.81 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.