Arvinas, Inc. (NASDAQ:ARVN) Short Interest Up 8.6% in March

Arvinas, Inc. (NASDAQ:ARVN) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 8,600,000 shares, a growth of 8.6% from the March 15th total of 7,920,000 shares. Based on an average daily volume of 735,200 shares, the days-to-cover ratio is currently 11.7 days.

Wall Street Analysts Forecast Growth

ARVN has been the topic of several recent analyst reports. Citigroup downgraded shares of Arvinas from a “buy” rating to a “neutral” rating and upped their price objective for the company from $36.00 to $55.00 in a report on Wednesday, February 14th. Truist Financial reiterated a “buy” rating and issued a $65.00 price target on shares of Arvinas in a report on Monday, March 25th. The Goldman Sachs Group assumed coverage on shares of Arvinas in a report on Thursday, February 1st. They issued a “buy” rating and a $70.00 price target on the stock. Wells Fargo & Company upgraded shares of Arvinas from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $25.00 to $63.00 in a report on Tuesday, December 19th. Finally, Wedbush increased their price target on shares of Arvinas from $33.00 to $59.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $59.73.

Insiders Place Their Bets

In other Arvinas news, CFO Sean A. Cassidy sold 1,702 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $47.05, for a total value of $80,079.10. Following the completion of the transaction, the chief financial officer now directly owns 181,916 shares in the company, valued at $8,559,147.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Sean A. Cassidy sold 1,702 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $47.05, for a total transaction of $80,079.10. Following the transaction, the chief financial officer now owns 181,916 shares in the company, valued at $8,559,147.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ronald Peck sold 1,699 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $47.05, for a total transaction of $79,937.95. Following the transaction, the insider now owns 67,516 shares in the company, valued at approximately $3,176,627.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,597 shares of company stock worth $404,489. 2.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ARVN. China Universal Asset Management Co. Ltd. raised its stake in Arvinas by 96.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,374 shares of the company’s stock valued at $27,000 after purchasing an additional 674 shares during the last quarter. BluePath Capital Management LLC acquired a new position in Arvinas in the 3rd quarter valued at $28,000. PNC Financial Services Group Inc. raised its stake in Arvinas by 1,015.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,383 shares of the company’s stock valued at $34,000 after purchasing an additional 1,259 shares during the last quarter. Royal Bank of Canada raised its stake in Arvinas by 37.6% in the 3rd quarter. Royal Bank of Canada now owns 1,230 shares of the company’s stock valued at $54,000 after purchasing an additional 336 shares during the last quarter. Finally, Natixis acquired a new position in Arvinas in the 4th quarter valued at $54,000. 95.19% of the stock is owned by institutional investors and hedge funds.

Arvinas Price Performance

Shares of NASDAQ:ARVN opened at $33.44 on Wednesday. Arvinas has a 1 year low of $13.57 and a 1 year high of $53.08. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of -5.14 and a beta of 1.94. The business’s 50 day moving average price is $44.14 and its 200-day moving average price is $33.94.

Arvinas (NASDAQ:ARVN) last announced its earnings results on Tuesday, February 27th. The company reported ($2.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.15) by ($1.38). Arvinas had a negative net margin of 185.09% and a negative return on equity of 70.24%. The business had revenue of ($43.10) million for the quarter, compared to analysts’ expectations of $38.91 million. During the same quarter last year, the business earned ($1.56) EPS. On average, sell-side analysts expect that Arvinas will post -5.73 earnings per share for the current 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.