Arvinas (NASDAQ:ARVN) Trading Up 4.4%

Arvinas, Inc. (NASDAQ:ARVN)’s share price rose 4.4% during mid-day trading on Wednesday . The company traded as high as $25.59 and last traded at $25.53. Approximately 164,506 shares were traded during trading, a decline of 78% from the average daily volume of 744,657 shares. The stock had previously closed at $24.46.

Analyst Ratings Changes

Several research analysts recently issued reports on ARVN shares. Stifel Nicolaus cut their target price on shares of Arvinas from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Barclays raised their price objective on Arvinas from $26.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Truist Financial restated a “buy” rating and set a $65.00 price objective on shares of Arvinas in a report on Monday, March 25th. Wells Fargo & Company reduced their price objective on shares of Arvinas from $63.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, May 9th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $87.00 price target on shares of Arvinas in a research report on Friday, May 17th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $61.13.

Arvinas Price Performance

The stock’s 50-day moving average price is $30.51 and its two-hundred day moving average price is $37.81.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.97) EPS for the quarter, beating the consensus estimate of ($1.42) by $0.45. The company had revenue of $25.30 million for the quarter, compared to analysts’ expectations of $32.94 million. Arvinas had a negative return on equity of 64.79% and a negative net margin of 185.09%. Arvinas’s revenue was down 22.2% compared to the same quarter last year. During the same period last year, the firm posted ($1.54) earnings per share. As a group, research analysts anticipate that Arvinas, Inc. will post -4.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ARVN. RTW Investments LP purchased a new position in shares of Arvinas in the fourth quarter worth approximately $173,427,000. Vanguard Group Inc. lifted its position in Arvinas by 29.9% during the first quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company’s stock valued at $260,046,000 after purchasing an additional 1,448,166 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Arvinas by 42.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,832,123 shares of the company’s stock valued at $157,731,000 after purchasing an additional 1,143,452 shares during the period. Commodore Capital LP purchased a new stake in Arvinas in the fourth quarter worth about $41,160,000. Finally, Norges Bank bought a new position in shares of Arvinas in the fourth quarter worth about $36,126,000. Institutional investors 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.