Arvinas, Inc. (NASDAQ:ARVN) Short Interest Up 21.0% in April

Arvinas, Inc. (NASDAQ:ARVN - Get Free Report) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totalling 7,730,000 shares, an increase of 21.0% from the March 31st total of 6,390,000 shares. Approximately 11.9% of the company's stock are short sold. Based on an average daily volume of 2,260,000 shares, the short-interest ratio is presently 3.4 days.

Insider Activity at Arvinas

In other Arvinas news, insider Ian Taylor sold 9,020 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $16.71, for a total value of $150,724.20. Following the completion of the sale, the insider now owns 159,121 shares of the company's stock, valued at $2,658,911.91. This trade represents a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John G. Houston sold 31,338 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $16.72, for a total transaction of $523,971.36. Following the transaction, the chief executive officer now directly owns 1,157,480 shares in the company, valued at approximately $19,353,065.60. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 50,230 shares of company stock worth $769,402. Corporate insiders own 5.23% of the company's stock.

Hedge Funds Weigh In On Arvinas

Hedge funds and other institutional investors have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. bought a new stake in shares of Arvinas during the fourth quarter valued at about $42,332,000. Norges Bank acquired a new stake in shares of Arvinas in the 4th quarter worth approximately $23,845,000. Boxer Capital Management LLC bought a new position in shares of Arvinas in the fourth quarter valued at approximately $20,294,000. RTW Investments LP increased its stake in shares of Arvinas by 19.8% during the fourth quarter. RTW Investments LP now owns 3,334,308 shares of the company's stock valued at $63,919,000 after acquiring an additional 551,979 shares during the period. Finally, ArrowMark Colorado Holdings LLC raised its holdings in Arvinas by 42.8% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,776,555 shares of the company's stock worth $34,057,000 after purchasing an additional 532,105 shares in the last quarter. 95.19% of the stock is currently owned by institutional investors and hedge funds.

Arvinas Trading Up 6.8 %

Shares of Arvinas stock opened at $7.72 on Friday. Arvinas has a twelve month low of $5.94 and a twelve month high of $37.38. The stock has a market capitalization of $530.92 million, a price-to-earnings ratio of -2.79 and a beta of 2.30. The business's 50 day simple moving average is $9.66 and its 200-day simple moving average is $17.51.

Arvinas (NASDAQ:ARVN - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.93) by $2.07. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. Arvinas's revenue for the quarter was up 646.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.97) EPS. Sell-side analysts predict that Arvinas will post -3.81 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ARVN. Stifel Nicolaus dropped their target price on Arvinas from $63.00 to $51.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th. Citigroup dropped their price objective on Arvinas from $28.00 to $19.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. HC Wainwright reduced their target price on Arvinas from $81.00 to $24.00 and set a "buy" rating for the company in a research note on Friday. Barclays dropped their price target on shares of Arvinas from $32.00 to $16.00 and set an "overweight" rating for the company in a research note on Friday. Finally, The Goldman Sachs Group cut their price target on shares of Arvinas from $12.00 to $8.00 and set a "neutral" rating on the stock in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $25.82.

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.

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