Arvinas (NASDAQ:ARVN) Trading Up 9.2% – Should You Buy?

Arvinas, Inc. (NASDAQ:ARVN)’s stock price was up 9.2% during mid-day trading on Friday . The company traded as high as $20.69 and last traded at $20.63. Approximately 360,360 shares traded hands during mid-day trading, a decline of 29% from the average daily volume of 506,650 shares. The stock had previously closed at $18.89.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ARVN. Oppenheimer dropped their price objective on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Guggenheim reaffirmed a “buy” rating on shares of Arvinas in a report on Thursday, December 12th. BTIG Research started coverage on Arvinas in a report on Tuesday, December 10th. They issued a “buy” rating and a $69.00 price objective on the stock. BMO Capital Markets decreased their target price on Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arvinas presently has a consensus rating of “Moderate Buy” and an average price target of $63.50.

Arvinas Price Performance

The business has a fifty day moving average of $23.44 and a 200 day moving average of $25.08. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of -4.42 and a beta of 1.82.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.20. The firm had revenue of $102.40 million for the quarter, compared to analyst estimates of $60.56 million. During the same quarter last year, the company earned ($1.18) earnings per share. The firm’s revenue for the quarter was up 196.0% on a year-over-year basis. On average, equities research analysts expect that Arvinas, Inc. will post -3.22 EPS for the current year.

Hedge Funds Weigh In On Arvinas

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased its holdings in Arvinas by 32.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 235,096 shares of the company’s stock worth $6,258,000 after purchasing an additional 57,835 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Arvinas by 13.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 14,298 shares of the company’s stock worth $381,000 after acquiring an additional 1,728 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake 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 buying an additional 2,363 shares in the last quarter. Rhumbline Advisers lifted its holdings in Arvinas by 26.7% during the 2nd quarter. Rhumbline Advisers now owns 90,229 shares of the company’s stock worth $2,402,000 after buying an additional 19,024 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Arvinas by 38.3% in the 2nd quarter. Victory Capital Management Inc. now owns 53,912 shares of the company’s stock valued at $1,435,000 after acquiring an additional 14,924 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.