Arvinas (NASDAQ:ARVN) Trading 6.8% Higher

Arvinas, Inc. (NASDAQ:ARVN)’s stock price shot up 6.8% on Tuesday . The company traded as high as $34.60 and last traded at $34.45. 359,949 shares were traded during trading, a decline of 50% from the average session volume of 717,537 shares. The stock had previously closed at $32.26.

Wall Street Analyst Weigh In

Several research firms have issued reports on ARVN. Leerink Partnrs reaffirmed an “outperform” rating on shares of Arvinas in a report on Thursday, February 22nd. Citigroup lowered Arvinas from a “buy” rating to a “neutral” rating and increased their price target for the company from $36.00 to $55.00 in a research report on Wednesday, February 14th. Wedbush boosted their price objective on Arvinas from $33.00 to $59.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. HC Wainwright decreased their target price on shares of Arvinas from $90.00 to $87.00 and set a “buy” rating for the company in a report on Friday, April 12th. Finally, Oppenheimer restated an “outperform” rating and set a $80.00 price target (down previously from $95.00) on shares of Arvinas in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Arvinas currently has a consensus rating of “Moderate Buy” and an average price target of $59.73.

Arvinas Stock Performance

The company has a 50 day moving average of $39.55 and a 200 day moving average of $35.44. The firm has a market cap of $2.35 billion, a P/E ratio of -5.30 and a beta of 1.95.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Tuesday, February 27th. The company reported ($2.53) EPS for the quarter, missing the consensus estimate of ($1.15) by ($1.38). The business had revenue of ($43.10) million during the quarter, compared to the consensus estimate of $38.91 million. Arvinas had a negative return on equity of 70.24% and a negative net margin of 185.09%. During the same period in the prior year, the firm earned ($1.56) earnings per share. As a group, analysts expect that Arvinas, Inc. will post -5.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arvinas news, CEO John G. Houston sold 5,196 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $47.05, for a total transaction of $244,471.80. Following the completion of the sale, the chief executive officer now owns 1,036,681 shares of the company’s stock, valued at $48,775,841.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Sean A. Cassidy sold 1,702 shares of Arvinas stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $47.05, for a total value of $80,079.10. Following the transaction, the chief financial officer now directly owns 181,916 shares in the company, valued at $8,559,147.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John G. Houston sold 5,196 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $47.05, for a total value of $244,471.80. Following the sale, the chief executive officer now owns 1,036,681 shares of the company’s stock, valued at approximately $48,775,841.05. The disclosure for this sale can be found here. Insiders sold 8,597 shares of company stock valued at $404,489 over the last quarter. Insiders own 5.23% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Corton Capital Inc. increased its position in Arvinas by 132.9% during the third quarter. Corton Capital Inc. now owns 21,750 shares of the company’s stock worth $427,000 after acquiring an additional 12,411 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Arvinas during the fourth quarter valued at about $2,202,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Arvinas by 363.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,370 shares of the company’s stock valued at $262,000 after buying an additional 4,996 shares during the period. Capula Management Ltd acquired a new stake in Arvinas during the third quarter worth about $808,000. Finally, Federated Hermes Inc. increased its stake in Arvinas by 32.4% during the fourth quarter. Federated Hermes Inc. now owns 138,028 shares of the company’s stock valued at $5,681,000 after acquiring an additional 33,770 shares during the period. 95.19% of the stock is currently owned by institutional investors and hedge funds.

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.