Arvinas, Inc. (NASDAQ:ARVN - Get Free Report)'s stock price was up 7.9% on Wednesday . The company traded as high as $7.06 and last traded at $7.22. Approximately 326,688 shares traded hands during trading, a decline of 76% from the average daily volume of 1,338,242 shares. The stock had previously closed at $6.69.
Wall Street Analyst Weigh In
ARVN has been the topic of several recent analyst reports. UBS Group decreased their target price on shares of Arvinas from $74.00 to $21.00 and set a "buy" rating on the stock in a report on Thursday, May 15th. Guggenheim dropped their target price on shares of Arvinas from $32.00 to $16.00 and set a "buy" rating for the company in a report on Friday, May 2nd. BTIG Research set a $16.00 price objective on shares of Arvinas and gave the company a "buy" rating in a research note on Friday, May 2nd. BMO Capital Markets reduced their target price on Arvinas from $20.00 to $10.00 and set an "outperform" rating on the stock in a report on Monday, May 5th. Finally, Stifel Nicolaus dropped their target price on Arvinas from $63.00 to $51.00 and set a "buy" rating on the stock in a report on Wednesday, February 12th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $20.92.
Read Our Latest Stock Report on ARVN
Arvinas Stock Up 8.6%
The company has a market cap of $530.28 million, a P/E ratio of -2.62 and a beta of 2.21. The firm's 50 day moving average is $7.39 and its two-hundred day moving average is $15.03.
Arvinas (NASDAQ:ARVN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $1.14 EPS for the quarter, beating the consensus estimate of ($0.93) by $2.07. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. The business's quarterly revenue was up 646.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.97) earnings per share. As a group, research analysts forecast that Arvinas, Inc. will post -3.81 EPS for the current fiscal year.
Insider Transactions at Arvinas
In related news, insider Noah Berkowitz sold 8,658 shares of the company's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $8.59, for a total value of $74,372.22. Following the sale, the insider now directly owns 110,023 shares of the company's stock, valued at $945,097.57. This represents a 7.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.73% of the company's stock.
Institutional Investors Weigh In On Arvinas
Several hedge funds and other institutional investors have recently modified their holdings of ARVN. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Arvinas during the fourth quarter valued at about $42,332,000. Alyeska Investment Group L.P. purchased a new stake in shares of Arvinas during the first quarter valued at $12,636,000. Vanguard Group Inc. increased its position in shares of Arvinas by 18.4% in the 1st quarter. Vanguard Group Inc. now owns 8,362,200 shares of the company's stock valued at $58,703,000 after acquiring an additional 1,299,639 shares during the period. Norges Bank purchased a new position in Arvinas in the 4th quarter worth $23,845,000. Finally, Boxer Capital Management LLC acquired a new stake in Arvinas during the 4th quarter worth about $20,294,000. 95.19% of the stock is currently owned by hedge funds and other institutional investors.
About Arvinas
(
Get Free Report)
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.
Further Reading
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