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

Arvinas, Inc. (NASDAQ:ARVN) was the recipient of a large drop in short interest in the month of January. As of January 30th, there was short interest totaling 4,262,275 shares, a drop of 15.6% from the January 15th total of 5,052,067 shares. Currently, 7.0% of the shares of the company are sold short. Based on an average trading volume of 720,790 shares, the days-to-cover ratio is currently 5.9 days. Based on an average trading volume of 720,790 shares, the days-to-cover ratio is currently 5.9 days. Currently, 7.0% of the shares of the company are sold short.

Analyst Ratings Changes

Several brokerages have recently issued reports on ARVN. Wedbush reaffirmed a “neutral” rating and issued a $9.00 price target on shares of Arvinas in a research report on Thursday, November 6th. Stephens raised their target price on Arvinas from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Barclays lifted their price target on Arvinas from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arvinas in a research report on Monday, December 22nd. Finally, Wall Street Zen lowered shares of Arvinas from a “hold” rating to a “sell” rating in a research report on Saturday. Ten investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Arvinas has a consensus rating of “Hold” and a consensus target price of $13.12.

Arvinas Price Performance

Shares of Arvinas stock opened at $11.65 on Monday. Arvinas has a 52-week low of $5.90 and a 52-week high of $20.38. The firm has a market capitalization of $748.16 million, a PE ratio of -14.38 and a beta of 1.88. The company’s fifty day moving average price is $12.47 and its two-hundred day moving average price is $10.26.

Institutional Trading of Arvinas

Large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its holdings in shares of Arvinas by 491.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock valued at $43,000 after buying an additional 4,835 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Arvinas by 109.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock valued at $49,000 after acquiring an additional 3,500 shares in the last quarter. State of Wyoming bought a new position in shares of Arvinas in the third quarter worth about $68,000. Aster Capital Management DIFC Ltd bought a new position in shares of Arvinas in the third quarter worth about $92,000. Finally, Jain Global LLC acquired a new position in shares of Arvinas during the third quarter worth approximately $95,000. 95.19% of the stock is currently owned by institutional investors.

Arvinas Company Profile

Arvinas, Inc (NASDAQ: ARVN) is a biopharmaceutical company focused on the development of therapies based on targeted protein degradation. Utilizing its proprietary proteolysis-targeting chimera (PROTAC®) platform, Arvinas aims to selectively eliminate disease-causing proteins rather than merely inhibit their activity. This novel approach has the potential to address a range of diseases, including oncology, neurodegeneration and inflammation, by harnessing the body’s natural protein-recycling systems.

The company’s most advanced clinical candidates address hormone-driven cancers.