Arvinas (NASDAQ:ARVN) Trading 5.7% Higher – Here’s What Happened

Arvinas, Inc. (NASDAQ:ARVN) rose 5.7% during trading on Thursday . The stock traded as high as $23.99 and last traded at $23.99. Approximately 139,395 shares were traded during trading, a decline of 81% from the average daily volume of 715,351 shares. The stock had previously closed at $22.69.

Wall Street Analysts Forecast Growth

ARVN has been the subject of several analyst reports. Barclays lowered their price target on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Stephens initiated coverage on shares of Arvinas in a report on Monday. They issued an “overweight” rating and a $55.00 target price for the company. Wedbush restated an “outperform” rating and issued a $57.00 target price on shares of Arvinas in a report on Tuesday, July 30th. Oppenheimer lowered their target price on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, BMO Capital Markets reduced their price target on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $61.08.

Arvinas Stock Up 10.3 %

The company’s fifty day moving average is $25.62 and its 200 day moving average is $27.06. The stock has a market cap of $1.72 billion, a PE ratio of -5.21 and a beta of 1.96.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, beating the consensus estimate of ($0.88) by $0.20. The business had revenue of $102.40 million during the quarter, compared to analysts’ expectations of $60.56 million. The company’s quarterly revenue was up 196.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.18) EPS. Equities analysts expect that Arvinas, Inc. will post -3.32 EPS for the current year.

Institutional Trading of Arvinas

A number of hedge funds have recently made changes to their positions in ARVN. Sei Investments Co. raised its stake in shares of Arvinas by 219.4% during the first quarter. Sei Investments Co. now owns 24,501 shares of the company’s stock valued at $1,012,000 after purchasing an additional 16,831 shares during the period. State Board of Administration of Florida Retirement System grew its position in shares of Arvinas by 18.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 16,670 shares of the company’s stock worth $688,000 after buying an additional 2,590 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Arvinas by 29.9% during the first quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company’s stock worth $260,046,000 after buying an additional 1,448,166 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Arvinas during the first quarter worth approximately $330,000. Finally, American International Group Inc. grew its position in shares of Arvinas by 1.8% during the first quarter. American International Group Inc. now owns 24,857 shares of the company’s stock worth $1,026,000 after buying an additional 449 shares in the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.

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.