Arvinas (NASDAQ:ARVN) Trading 5.9% Higher – What’s Next?

Shares of Arvinas, Inc. (NASDAQ:ARVN) traded up 5.9% during mid-day trading on Wednesday . The stock traded as high as $27.42 and last traded at $27.42. 58,211 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 721,632 shares. The stock had previously closed at $25.90.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ARVN shares. Oppenheimer lowered their price objective on Arvinas from $70.00 to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Barclays dropped their target price on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. HC Wainwright reissued a “buy” rating and set a $87.00 price objective on shares of Arvinas in a report on Thursday, August 1st. Finally, Wedbush reiterated an “outperform” rating and set a $57.00 target price on shares of Arvinas in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.50.

Arvinas Stock Performance

The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -4.62 and a beta of 1.97. The business’s 50-day simple moving average is $25.12 and its 200-day simple moving average is $28.64.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Tuesday, July 30th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.08) by $0.59. The company had revenue of $76.50 million for the quarter, compared to the consensus estimate of $33.27 million. Arvinas’s quarterly revenue was up 40.4% on a year-over-year basis. During the same quarter last year, the business posted ($1.25) EPS. On average, analysts forecast that Arvinas, Inc. will post -3.51 earnings per share for the current year.

Institutional Investors Weigh In On Arvinas

Several large investors have recently modified their holdings of ARVN. Exchange Traded Concepts LLC raised its holdings in shares of Arvinas by 37.0% during the third quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company’s stock worth $164,000 after acquiring an additional 1,798 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of Arvinas by 17.4% in the third quarter. Handelsbanken Fonder AB now owns 19,525 shares of the company’s stock valued at $481,000 after purchasing an additional 2,900 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of Arvinas by 45.2% during the second quarter. Squarepoint Ops LLC now owns 118,899 shares of the company’s stock worth $3,165,000 after buying an additional 37,028 shares during the period. Marshall Wace LLP bought a new position in shares of Arvinas during the second quarter worth about $538,000. Finally, Magnetar Financial LLC raised its position 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 buying an additional 22,245 shares during the last quarter. 95.19% of the stock is currently 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.