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

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

Insider Activity at Arvinas

In related news, CFO Sean A. Cassidy sold 1,702 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $47.05, for a total transaction 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 approximately $8,559,147.80. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Sean A. Cassidy sold 1,702 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $47.05, for a total transaction 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 approximately $8,559,147.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO John G. Houston sold 5,196 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $47.05, for a total value of $244,471.80. Following the completion of the transaction, the chief executive officer now directly owns 1,036,681 shares of the company’s stock, valued at approximately $48,775,841.05. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,597 shares of company stock valued at $404,489. Corporate insiders own 2.55% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC acquired a new position in shares of Arvinas during the 1st quarter valued at about $57,000. Royal Bank of Canada grew its holdings 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 buying an additional 336 shares during the last quarter. Pathstone Family Office LLC acquired a new stake in Arvinas in the 4th quarter valued at approximately $207,000. China Universal Asset Management Co. Ltd. grew its holdings 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 buying an additional 674 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings 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 buying an additional 1,259 shares during the last quarter. Institutional investors and hedge funds own 95.19% of the company’s stock.

Arvinas Stock Performance

ARVN stock traded down $0.75 during mid-day trading on Tuesday, hitting $33.97. The stock had a trading volume of 205,950 shares, compared to its average volume of 719,668. Arvinas has a 1-year low of $13.57 and a 1-year high of $53.08. The company has a fifty day moving average of $44.45 and a 200 day moving average of $33.85.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Tuesday, February 27th. The company reported ($2.53) earnings per share for the quarter, missing the consensus estimate of ($1.15) by ($1.38). Arvinas had a negative return on equity of 70.24% and a negative net margin of 185.09%. The firm had revenue of ($43.10) million during the quarter, compared to analyst estimates of $38.91 million. During the same period in the previous year, the company earned ($1.56) earnings per share. Analysts predict that Arvinas will post -5.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ARVN shares. Barclays increased their price target on Arvinas from $26.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Wedbush raised their target price on Arvinas from $33.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Arvinas in a research note on Thursday, February 22nd. Truist Financial reaffirmed a “buy” rating and set a $65.00 target price on shares of Arvinas in a research note on Monday, March 25th. Finally, HC Wainwright decreased their target price on Arvinas from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Friday. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.73.

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.