Arvinas, Inc. (NASDAQ:ARVN – Free Report) saw a large drop in short interest in June. As of June 15th, there was short interest totalling 2,660,000 shares, a drop of 20.6% from the May 31st total of 3,350,000 shares. Based on an average daily volume of 475,400 shares, the short-interest ratio is currently 5.6 days. Currently, 5.8% of the shares of the company are sold short.
Analyst Ratings Changes
A number of equities analysts recently issued reports on ARVN shares. Stifel Nicolaus reduced their target price on Arvinas from $75.00 to $72.00 in a research note on Monday, May 8th. Citigroup raised their price target on shares of Arvinas from $72.00 to $77.00 in a research report on Friday, March 17th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Arvinas presently has an average rating of “Moderate Buy” and an average price target of $69.14.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. New England Capital Financial Advisors LLC acquired a new position in Arvinas during the fourth quarter worth $34,000. Royal Bank of Canada raised its position in shares of Arvinas by 37.6% during the 3rd quarter. Royal Bank of Canada now owns 1,230 shares of the company’s stock worth $54,000 after purchasing an additional 336 shares during the last quarter. Natixis purchased a new position in Arvinas in the 4th quarter valued at about $54,000. Lazard Asset Management LLC acquired a new stake in Arvinas in the 1st quarter worth about $57,000. Finally, Amundi increased its stake in Arvinas by 185.7% during the 4th quarter. Amundi now owns 3,606 shares of the company’s stock worth $109,000 after buying an additional 2,344 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.
Arvinas Stock Performance
Shares of Arvinas stock opened at $25.18 on Tuesday. The firm has a 50-day simple moving average of $25.14 and a two-hundred day simple moving average of $29.10. Arvinas has a fifty-two week low of $21.21 and a fifty-two week high of $58.58. The company has a market cap of $1.34 billion, a P/E ratio of -4.45 and a beta of 1.75.
Arvinas (NASDAQ:ARVN – Free Report) last released its quarterly earnings results on Friday, May 5th. The company reported ($1.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.49) by ($0.05). The business had revenue of $32.50 million during the quarter, compared to analyst estimates of $27.74 million. Arvinas had a negative return on equity of 50.85% and a negative net margin of 227.86%. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.20) EPS. Equities research analysts forecast that Arvinas will post -6.7 EPS for the current year.
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.