Arvinas (NASDAQ:ARVN) Trading 4.2% Higher – Here’s What Happened

Arvinas, Inc. (NASDAQ:ARVN) rose 4.2% during trading on Thursday . The company traded as high as $8.04 and last traded at $7.97. Approximately 345,483 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 1,106,135 shares. The stock had previously closed at $7.65.

Analyst Ratings Changes

ARVN has been the subject of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $81.00 price target on shares of Arvinas in a research report on Monday, April 7th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a report on Friday, February 7th. Guggenheim dropped their target price on shares of Arvinas from $57.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Citigroup decreased their price objective on shares of Arvinas from $28.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Finally, Stifel Nicolaus lowered their price objective on Arvinas from $63.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Arvinas currently has a consensus rating of “Moderate Buy” and an average target price of $34.53.

Arvinas Stock Performance

The company’s 50-day moving average price is $11.88 and its 200 day moving average price is $18.87. The stock has a market cap of $575.62 million, a PE ratio of -3.02 and a beta of 2.30.

Arvinas (NASDAQ:ARVN) last announced its earnings results on Tuesday, February 11th. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.44. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same quarter in the previous year, the company earned ($2.53) earnings per share. On average, sell-side analysts anticipate that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Arvinas

In other Arvinas news, insider Noah Berkowitz sold 8,658 shares of Arvinas stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $8.59, for a total transaction of $74,372.22. Following the transaction, the insider now owns 110,023 shares of the company’s stock, valued at $945,097.57. The trade was 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 through the SEC website. Also, CEO John G. Houston sold 31,338 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $16.72, for a total transaction of $523,971.36. Following the completion of the sale, the chief executive officer now directly owns 1,157,480 shares of the company’s stock, valued at approximately $19,353,065.60. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,230 shares of company stock valued at $769,402. Company insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Arvinas

Several hedge funds have recently modified their holdings of ARVN. Exchange Traded Concepts LLC lifted its stake in Arvinas by 119.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 14,642 shares of the company’s stock worth $103,000 after purchasing an additional 7,983 shares in the last quarter. Rhumbline Advisers grew its holdings in Arvinas by 3.8% during the 1st quarter. Rhumbline Advisers now owns 91,210 shares of the company’s stock valued at $640,000 after buying an additional 3,333 shares in the last quarter. GAMMA Investing LLC increased its stake in Arvinas by 11,283.8% in the 1st quarter. GAMMA Investing LLC now owns 4,212 shares of the company’s stock worth $300,000 after acquiring an additional 4,175 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Arvinas during the 4th quarter valued at approximately $28,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Arvinas by 0.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 433,531 shares of the company’s stock valued at $8,311,000 after purchasing an additional 3,047 shares in the last quarter. Hedge funds and other 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.