Arvinas, Inc. (NASDAQ:ARVN) Sees Significant Decline in Short Interest

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

Arvinas Trading Down 1.6%

Shares of ARVN stock opened at $11.65 on Tuesday. The stock has a market capitalization of $748.16 million, a price-to-earnings ratio of -14.38 and a beta of 1.88. The stock’s 50-day moving average price is $12.44 and its 200-day moving average price is $10.29. Arvinas has a 12-month low of $5.90 and a 12-month high of $20.38.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Citigroup upgraded shares of Arvinas from a “neutral” rating to a “buy” rating and increased their price objective for the company from $10.00 to $15.00 in a research note on Tuesday, January 6th. Wells Fargo & Company reduced their price objective on shares of Arvinas from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Barclays upped their target price on Arvinas from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 17th. Wedbush restated a “neutral” rating and set a $9.00 price target on shares of Arvinas in a research report on Thursday, November 6th. Finally, Stephens raised their target price on shares of Arvinas from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Ten analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $13.12.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ARVN. Verition Fund Management LLC grew its stake in Arvinas by 15.1% during the 4th quarter. Verition Fund Management LLC now owns 91,999 shares of the company’s stock worth $1,091,000 after buying an additional 12,048 shares during the last quarter. Nantahala Capital Management LLC purchased a new position in shares of Arvinas in the 4th quarter valued at approximately $3,558,000. Marshall Wace LLP boosted its stake in Arvinas by 39.8% in the 4th quarter. Marshall Wace LLP now owns 332,535 shares of the company’s stock worth $3,944,000 after purchasing an additional 94,632 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Arvinas by 13.4% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 252,294 shares of the company’s stock worth $2,992,000 after purchasing an additional 29,814 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its position in Arvinas by 30.8% during the 4th quarter. Rafferty Asset Management LLC now owns 17,650 shares of the company’s stock worth $209,000 after purchasing an additional 4,156 shares during the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.

About Arvinas

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.