Arvinas (NASDAQ:ARVN) Shares Up 4.2% – What’s Next?

Arvinas, Inc. (NASDAQ:ARVN)’s share price was up 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 trading, a decline of 69% from the average daily volume of 1,106,135 shares. The stock had previously closed at $7.65.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a report on Friday, February 7th. Morgan Stanley reduced their price objective on shares of Arvinas from $48.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Truist Financial lowered their target price on shares of Arvinas from $65.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company set a $26.00 price target on Arvinas and gave the company an “overweight” rating in a research note on Wednesday, March 12th. Finally, Stifel Nicolaus decreased their price target on Arvinas from $63.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Five research analysts have rated the stock with a hold rating and eleven 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 $34.33.

Arvinas Price Performance

The company has a market cap of $591.44 million, a PE ratio of -3.10 and a beta of 2.30. The stock has a 50 day simple moving average of $11.49 and a two-hundred day simple moving average of $18.64.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, topping 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 posted ($2.53) earnings per share. As a group, equities analysts anticipate that Arvinas, Inc. will post -3.81 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO John G. Houston sold 31,338 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $16.72, for a total transaction of $523,971.36. Following the transaction, the chief executive officer now directly owns 1,157,480 shares in the company, valued at $19,353,065.60. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Noah Berkowitz sold 8,658 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $8.59, for a total transaction of $74,372.22. Following the completion of the sale, the insider now owns 110,023 shares of the company’s stock, valued at approximately $945,097.57. The trade was a 7.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,230 shares of company stock valued at $769,402 over the last quarter. 5.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arvinas

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. purchased a new stake in shares of Arvinas in the fourth quarter valued at approximately $28,000. KBC Group NV lifted its holdings in Arvinas by 77.0% in the fourth quarter. KBC Group NV now owns 2,885 shares of the company’s stock valued at $55,000 after acquiring an additional 1,255 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of Arvinas by 119.9% during 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. KLP Kapitalforvaltning AS acquired a new position in shares of Arvinas during the 4th quarter worth $171,000. Finally, Tema Etfs LLC purchased a new position in shares of Arvinas in the 4th quarter valued at about $227,000. Institutional investors and hedge funds own 95.19% of the company’s stock.

About Arvinas

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.