Short Interest in Arvinas, Inc. (NASDAQ:ARVN) Grows By 7.0%

Arvinas, Inc. (NASDAQ:ARVN) was the target of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 10,440,000 shares, a growth of 7.0% from the January 15th total of 9,760,000 shares. Based on an average daily volume of 885,500 shares, the days-to-cover ratio is currently 11.8 days.

Hedge Funds Weigh In On Arvinas

A number of hedge funds have recently made changes to their positions in ARVN. Exchange Traded Concepts LLC raised its stake in shares of Arvinas by 37.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company’s stock valued at $164,000 after acquiring an additional 1,798 shares during the period. nVerses Capital LLC acquired a new position in Arvinas during the 3rd quarter worth $39,000. Assenagon Asset Management S.A. acquired a new position in Arvinas during the 3rd quarter worth $3,442,000. E. Ohman J or Asset Management AB grew its holdings in Arvinas by 20.1% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 29,830 shares of the company’s stock worth $735,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Arvinas by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock worth $61,000 after acquiring an additional 440 shares in the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Stock Up 3.6 %

NASDAQ:ARVN opened at $18.31 on Monday. The company has a market cap of $1.26 billion, a P/E ratio of -3.92 and a beta of 1.88. Arvinas has a fifty-two week low of $16.61 and a fifty-two week high of $53.08. The firm’s 50 day moving average is $18.88 and its two-hundred day moving average is $23.16.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.44. During the same quarter in the previous year, the company posted ($2.53) EPS. Research analysts forecast that Arvinas will post -3.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on ARVN. Guggenheim reiterated a “buy” rating and issued a $57.00 price target on shares of Arvinas in a research report on Wednesday, February 12th. Stephens began coverage on shares of Arvinas in a research report on Monday, November 18th. They issued an “overweight” rating and a $55.00 price target on the stock. BTIG Research began coverage on shares of Arvinas in a research report on Tuesday, December 10th. They issued a “buy” rating and a $69.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $87.00 price target on shares of Arvinas in a research report on Wednesday, December 11th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research report on Friday, February 7th. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $60.00.

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.