Arvinas (NASDAQ:ARVN) Trading 7.4% Higher – Here’s Why

Arvinas, Inc. (NASDAQ:ARVN) shares shot up 7.4% on Tuesday . The company traded as high as $19.75 and last traded at $19.67. 144,908 shares were traded during mid-day trading, a decline of 84% from the average session volume of 886,925 shares. The stock had previously closed at $18.31.

Analyst Ratings Changes

A number of brokerages have weighed in on ARVN. HC Wainwright reaffirmed a “buy” rating and issued a $87.00 price target on shares of Arvinas in a research note on Wednesday, December 11th. Stephens started coverage on shares of Arvinas in a report on Monday, November 18th. They issued an “overweight” rating and a $55.00 price objective on the stock. Guggenheim restated a “buy” rating and set a $57.00 target price on shares of Arvinas in a report on Wednesday, February 12th. Stifel Nicolaus lowered their target price on shares of Arvinas from $63.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a report on Friday, February 7th. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $60.00.

Arvinas Price Performance

The company’s 50-day moving average is $18.63 and its two-hundred day moving average is $23.05. The firm has a market cap of $1.28 billion, a P/E ratio of -3.99 and a beta of 1.88.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($1.07) by $0.44. During the same quarter in the prior year, the firm posted ($2.53) EPS. On average, analysts expect that Arvinas, Inc. will post -3.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Arvinas

Several institutional investors and hedge funds have recently bought and sold shares of ARVN. nVerses Capital LLC bought a new position in shares of Arvinas during the 3rd quarter worth approximately $39,000. KBC Group NV boosted its holdings in shares of Arvinas by 77.0% during the 4th quarter. KBC Group NV now owns 2,885 shares of the company’s stock worth $55,000 after buying an additional 1,255 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Arvinas by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock worth $61,000 after buying an additional 440 shares in the last quarter. Quantbot Technologies LP boosted its holdings in shares of Arvinas by 147.3% during the 3rd quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock worth $108,000 after buying an additional 2,601 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Arvinas by 37.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company’s stock worth $164,000 after buying an additional 1,798 shares in the last quarter. Institutional investors own 95.19% of the company’s stock.

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.