Arvinas Inc (NASDAQ:ARVN) reached a new 52-week high during trading on Tuesday . The company traded as high as $32.28 and last traded at $32.28, with a volume of 5813 shares changing hands. The stock had previously closed at $31.06.
Several brokerages have recently issued reports on ARVN. BMO Capital Markets began coverage on shares of Arvinas in a research report on Thursday, September 12th. They set an “outperform” rating and a $34.00 price target on the stock. ValuEngine cut shares of Arvinas from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Goldman Sachs Group raised shares of Arvinas from a “neutral” rating to a “buy” rating and increased their price target for the stock from $23.00 to $38.00 in a research report on Thursday, October 24th. Roth Capital began coverage on shares of Arvinas in a report on Thursday, November 14th. They issued a “buy” rating and a $35.00 target price on the stock. Finally, Cantor Fitzgerald began coverage on shares of Arvinas in a report on Monday, August 5th. They issued an “overweight” rating and a $42.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $32.75.
The company has a market capitalization of $1.03 billion, a PE ratio of -1.27 and a beta of 2.13. The company has a debt-to-equity ratio of 0.03, a current ratio of 6.79 and a quick ratio of 6.79. The company’s 50 day simple moving average is $21.17 and its 200 day simple moving average is $22.78.
Arvinas (NASDAQ:ARVN) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.46) by $0.67. The company had revenue of $30.05 million for the quarter, compared to analyst estimates of $11.42 million. Arvinas had a negative net margin of 157.34% and a negative return on equity of 31.57%. On average, equities analysts forecast that Arvinas Inc will post -1.94 EPS for the current year.
In other Arvinas news, Director Liam Ratcliffe bought 680,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were acquired at an average cost of $22.00 per share, for a total transaction of $14,960,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ian Taylor sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $21.86, for a total transaction of $218,600.00. Corporate insiders own 31.77% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Arvinas by 124.5% during the second quarter. BlackRock Inc. now owns 1,038,838 shares of the company’s stock worth $22,845,000 after acquiring an additional 576,137 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Arvinas by 65.9% during the second quarter. Point72 Asset Management L.P. now owns 688,623 shares of the company’s stock worth $15,143,000 after purchasing an additional 273,623 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Arvinas by 33.0% during the second quarter. Vanguard Group Inc. now owns 545,305 shares of the company’s stock worth $11,991,000 after purchasing an additional 135,177 shares during the period. Bank of America Corp DE lifted its holdings in shares of Arvinas by 14,782.2% during the second quarter. Bank of America Corp DE now owns 232,609 shares of the company’s stock worth $5,116,000 after purchasing an additional 231,046 shares during the period. Finally, Nuveen Asset Management LLC acquired a new stake in shares of Arvinas during the second quarter worth $4,834,000. Institutional investors and hedge funds own 47.24% of the company’s stock.
About Arvinas (NASDAQ:ARVN)
Arvinas, Inc, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its lead products include ARV-110, proteolysis targeting chimeras (PROTAC) that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer; and ARV-471, a PROTAC targeting the estrogen receptor protein for the treatment of women with metastatic ER positive/HER2 negative breast cancer.
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