Arvinas, Inc. (NASDAQ:ARVN) Short Interest Up 7.7% in February

Arvinas, Inc. (NASDAQ:ARVN – Get Rating) saw a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 4,760,000 shares, an increase of 7.7% from the January 31st total of 4,420,000 shares. Approximately 10.4% of the company’s shares are sold short. Based on an average daily volume of 530,900 shares, the short-interest ratio is currently 9.0 days.

Arvinas Trading Up 3.3 %

ARVN stock opened at $31.39 on Monday. Arvinas has a 52 week low of $27.00 and a 52 week high of $75.39. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -5.90 and a beta of 1.78. The firm’s 50-day moving average is $33.19 and its two-hundred day moving average is $39.89.

Arvinas (NASDAQ:ARVN – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The company reported ($1.56) EPS for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.46). Arvinas had a negative return on equity of 43.79% and a negative net margin of 228.19%. The company had revenue of $38.00 million for the quarter, compared to the consensus estimate of $35.32 million. During the same quarter last year, the firm posted ($1.00) earnings per share. The firm’s quarterly revenue was up 32.4% compared to the same quarter last year. On average, equities research analysts predict that Arvinas will post -6.01 earnings per share for the current year.

Insiders Place Their Bets

In other Arvinas news, CEO John G. Houston sold 5,878 shares of the stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $29.53, for a total transaction of $173,577.34. Following the transaction, the chief executive officer now owns 917,427 shares of the company’s stock, valued at $27,091,619.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO John G. Houston sold 5,878 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $29.53, for a total value of $173,577.34. Following the transaction, the chief executive officer now owns 917,427 shares of the company’s stock, valued at approximately $27,091,619.31. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ian Taylor sold 1,051 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $29.53, for a total transaction of $31,036.03. Following the completion of the transaction, the insider now directly owns 101,721 shares in the company, valued at approximately $3,003,821.13. The disclosure for this sale can be found here. Insiders have sold a total of 8,674 shares of company stock valued at $256,143 over the last quarter. Company insiders own 2.78% of the company’s stock.

Institutional Trading of Arvinas

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. New England Capital Financial Advisors LLC purchased a new position in shares of Arvinas in the fourth quarter worth approximately $34,000. Royal Bank of Canada grew its position in Arvinas by 37.6% during the third 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 in the last quarter. Natixis purchased a new position in Arvinas during the fourth quarter valued at approximately $54,000. SeaCrest Wealth Management LLC purchased a new position in Arvinas during the second quarter valued at approximately $57,000. Finally, Lazard Asset Management LLC purchased a new position in Arvinas during the first quarter valued at approximately $57,000. 92.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ARVN has been the topic of a number of research reports. Piper Sandler raised their target price on shares of Arvinas from $76.00 to $81.00 and gave the company an “overweight” rating in a research note on Tuesday, November 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of Arvinas in a report on Tuesday, January 31st. Morgan Stanley lowered their price target on shares of Arvinas from $57.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, February 27th. Barclays lowered their price target on shares of Arvinas from $90.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, November 23rd. Finally, SVB Leerink decreased their price objective on shares of Arvinas from $89.00 to $74.00 and set an “outperform” rating for the company in a report on Tuesday, November 22nd. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $68.44.

Arvinas Company Profile

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Arvinas, Inc is a biopharmaceutical company, which engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its product candidates are ARV-110, a proteolysis targeting chimera (PROTAC) protein degrader that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer, ARV-471, and ARV-766, a PROTAC protein degrader targeting the estrogen receptor protein for the treatment of patients with metastatic ER positive/HER2 negative breast cancer.