Arvinas (NASDAQ:ARVN) Trading Up 9.2% – Time to Buy?

Arvinas, Inc. (NASDAQ:ARVN) shares traded up 9.2% on Friday . The stock traded as high as $20.69 and last traded at $20.63. 360,360 shares changed hands during trading, a decline of 29% from the average session volume of 506,650 shares. The stock had previously closed at $18.89.

Analyst Ratings Changes

A number of brokerages have recently commented on ARVN. BMO Capital Markets cut their price objective on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. HC Wainwright reissued a “buy” rating and set a $87.00 price target on shares of Arvinas in a research report on Wednesday, December 11th. Stephens began coverage on Arvinas in a report on Monday, November 18th. They issued an “overweight” rating and a $55.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. Finally, BTIG Research started coverage on Arvinas in a research report on Tuesday, December 10th. They set a “buy” rating and a $69.00 price target for the company. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $63.50.

Arvinas Trading Up 8.5 %

The company has a market capitalization of $1.41 billion, a P/E ratio of -4.39 and a beta of 1.87. The company has a 50 day moving average price of $23.33 and a 200 day moving average price of $25.05.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.20. The company had revenue of $102.40 million for the quarter, compared to the consensus estimate of $60.56 million. The company’s revenue for the quarter was up 196.0% compared to the same quarter last year. During the same period last year, the firm earned ($1.18) earnings per share. As a group, sell-side analysts forecast that Arvinas, Inc. will post -3.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ARVN. Baker BROS. Advisors LP bought a new position in Arvinas during the 3rd quarter worth $9,989,000. Wasatch Advisors LP grew its stake in shares of Arvinas by 58.3% in the third quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock valued at $10,737,000 after acquiring an additional 160,510 shares in the last quarter. Barclays PLC increased its position in Arvinas by 198.9% during the third quarter. Barclays PLC now owns 121,699 shares of the company’s stock worth $2,998,000 after acquiring an additional 80,984 shares during the period. Candriam S.C.A. raised its stake in Arvinas by 32.0% in the 2nd quarter. Candriam S.C.A. now owns 610,458 shares of the company’s stock worth $16,250,000 after purchasing an additional 147,904 shares in the last quarter. Finally, Magnetar Financial LLC boosted its holdings in Arvinas by 112.7% in the 2nd quarter. Magnetar Financial LLC now owns 41,992 shares of the company’s stock valued at $1,118,000 after purchasing an additional 22,245 shares during the period. 95.19% of the stock is owned by institutional investors.

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.