Arvinas (NASDAQ:ARVN) Shares Gap Up – Should You Buy?

Arvinas, Inc. (NASDAQ:ARVN)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $25.08, but opened at $25.75. Arvinas shares last traded at $24.81, with a volume of 318,181 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. HC Wainwright restated a “buy” rating and set a $87.00 price objective on shares of Arvinas in a research report on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. Stephens initiated coverage on shares of Arvinas in a report on Monday, November 18th. They set an “overweight” rating and a $55.00 price target on the stock. BTIG Research started coverage on Arvinas in a report on Tuesday. They set a “buy” rating and a $69.00 price objective for the company. Finally, Oppenheimer lowered their target price on Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.50.

Arvinas Price Performance

The stock’s 50 day moving average price is $25.77 and its two-hundred day moving average price is $26.33. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of -5.37 and a beta of 1.82.

Arvinas (NASDAQ:ARVN) last announced its earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share for the quarter, beating the consensus estimate of ($0.88) by $0.20. The business had revenue of $102.40 million for the quarter, compared to the consensus estimate of $60.56 million. During the same quarter in the previous year, the company earned ($1.18) EPS. Arvinas’s revenue for the quarter was up 196.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Arvinas, Inc. will post -3.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Arvinas

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its stake in Arvinas by 137.2% during the second quarter. SG Americas Securities LLC now owns 86,096 shares of the company’s stock worth $2,292,000 after buying an additional 49,799 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of Arvinas by 6.5% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 65,907 shares of the company’s stock valued at $1,754,000 after buying an additional 4,045 shares during the period. Bank of New York Mellon Corp raised its position in shares of Arvinas by 32.6% during the second quarter. Bank of New York Mellon Corp now owns 235,096 shares of the company’s stock worth $6,258,000 after acquiring an additional 57,835 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Arvinas by 13.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 14,298 shares of the company’s stock valued at $381,000 after acquiring an additional 1,728 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Arvinas by 30.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,062 shares of the company’s stock valued at $268,000 after acquiring an additional 2,363 shares during the last quarter. Institutional investors and hedge funds own 95.19% of the company’s stock.

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.