Arvinas (NASDAQ:ARVN) Shares Up 4% – Here’s What Happened

by · The Markets Daily

Arvinas, Inc. (NASDAQ:ARVN – Get Free Report)’s share price shot up 4% during mid-day trading on Thursday . The stock traded as high as $9.09 and last traded at $9.05. 849,142 shares changed hands during trading, a decline of 8% from the average session volume of 921,891 shares. The stock had previously closed at $8.70.

Analyst Ratings Changes

A number of research firms have recently commented on ARVN. Bank of America reduced their price objective on shares of Arvinas from $54.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Barclays cut their price target on shares of Arvinas from $48.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Oppenheimer lowered Arvinas from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 11th. Wells Fargo & Company set a $26.00 target price on Arvinas and gave the company an “overweight” rating in a research report on Wednesday, March 12th. Finally, Wedbush cut Arvinas from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $57.00 to $12.00 in a research note on Wednesday, March 12th. Five research analysts have rated the stock with a hold rating and eleven 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 target price of $37.47.

Check Out Our Latest Analysis on Arvinas

Arvinas Trading Up 5.3 %

The firm has a market cap of $630.23 million, a P/E ratio of -3.31 and a beta of 1.95. The company’s 50-day moving average is $16.65 and its two-hundred day moving average is $21.50.

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

Insider Buying and Selling at Arvinas

In other Arvinas news, insider Noah Berkowitz sold 8,658 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $8.59, for a total value of $74,372.22. Following the completion of the sale, the insider now owns 110,023 shares in the company, valued at approximately $945,097.57. This trade represents a 7.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John G. Houston sold 31,338 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.72, for a total value of $523,971.36. Following the completion of the transaction, the chief executive officer now owns 1,157,480 shares in the company, valued at $19,353,065.60. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,230 shares of company stock worth $769,402. Corporate insiders own 5.23% of the company’s stock.

Institutional Trading of Arvinas

A number of institutional investors and hedge funds have recently modified their holdings of ARVN. GF Fund Management CO. LTD. bought a new position in Arvinas in the 4th quarter valued at $28,000. KBC Group NV boosted its holdings in shares of Arvinas by 77.0% in 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 during the last quarter. Quantbot Technologies LP grew its position in Arvinas by 147.3% during the third quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock valued at $108,000 after buying an additional 2,601 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Arvinas during the fourth quarter worth about $171,000. Finally, Tema Etfs LLC purchased a new stake in Arvinas during the fourth quarter worth about $227,000. 95.19% of the stock is owned by hedge funds and other institutional investors.

Arvinas Company Profile

(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.

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