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

Arvinas, Inc. (NASDAQ:ARVN) was the recipient of a large growth in short interest during the month of 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 trading volume, of 735,200 shares, the short-interest ratio is presently 11.7 days.

Arvinas Stock Down 2.2 %

NASDAQ:ARVN traded down $0.75 on Tuesday, reaching $33.97. 205,950 shares of the stock traded hands, compared to its average volume of 719,668. Arvinas has a 12 month low of $13.57 and a 12 month high of $53.08. The company’s fifty day simple moving average is $44.45 and its 200 day simple moving average is $33.85.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($2.53) earnings per share 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 firm had revenue of ($43.10) million for the quarter, compared to the consensus estimate of $38.91 million. During the same quarter in the prior year, the business posted ($1.56) earnings per share. Analysts predict that Arvinas will post -5.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ARVN has been the subject of several analyst reports. HC Wainwright dropped their price target on shares of Arvinas from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Friday. BMO Capital Markets raised their target price on shares of Arvinas from $89.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Wedbush raised their target price on shares of Arvinas from $33.00 to $59.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Oppenheimer reaffirmed an “outperform” rating and issued a $80.00 target price (down from $95.00) on shares of Arvinas in a research report on Wednesday, February 28th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Arvinas in a research report on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.73.

Insider Transactions at Arvinas

In other news, CFO Sean A. Cassidy sold 1,702 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $47.05, for a total value of $80,079.10. Following the transaction, the chief financial officer now owns 181,916 shares of the company’s stock, valued at approximately $8,559,147.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Sean A. Cassidy sold 1,702 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $8,559,147.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ronald Peck sold 1,699 shares of the stock in a transaction on 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 directly owns 67,516 shares in the company, valued at approximately $3,176,627.80. The disclosure for this sale can be found here. Insiders have sold 8,597 shares of company stock valued at $404,489 in the last quarter. Insiders own 2.55% of the company’s stock.

Institutional Trading of Arvinas

Large investors have recently added to or reduced their stakes in the business. Corton Capital Inc. lifted its holdings in Arvinas by 132.9% during the third quarter. Corton Capital Inc. now owns 21,750 shares of the company’s stock valued at $427,000 after purchasing an additional 12,411 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in Arvinas by 363.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,370 shares of the company’s stock valued at $262,000 after purchasing an additional 4,996 shares in the last quarter. Capula Management Ltd purchased a new position in Arvinas during the third quarter valued at approximately $808,000. Vanguard Group Inc. lifted its holdings in Arvinas by 2.0% during the third quarter. Vanguard Group Inc. now owns 4,608,223 shares of the company’s stock valued at $90,505,000 after purchasing an additional 90,426 shares in the last quarter. Finally, TD Asset Management Inc lifted its holdings in Arvinas by 100.0% during the third quarter. TD Asset Management Inc now owns 94,872 shares of the company’s stock valued at $1,863,000 after purchasing an additional 47,436 shares in the last quarter. 95.19% of the stock is currently owned by institutional investors.

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.