Arvinas (NASDAQ:ARVN) Shares Up 8.7% – Still a Buy?

Shares of Arvinas, Inc. (NASDAQ:ARVN) traded up 8.7% on Friday . The company traded as high as $7.52 and last traded at $7.52. 1,421,506 shares traded hands during mid-day trading, an increase of 3% from the average session volume of 1,386,359 shares. The stock had previously closed at $6.92.

Analyst Ratings Changes

ARVN has been the topic of several recent analyst reports. Barclays dropped their price target on Arvinas from $32.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Morgan Stanley cut their target price on shares of Arvinas from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Friday, May 9th. Stifel Nicolaus reduced their price target on shares of Arvinas from $63.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Piper Sandler reaffirmed an “overweight” rating and issued a $14.00 price target (down from $24.00) on shares of Arvinas in a research note on Friday, May 2nd. Finally, BTIG Research set a $16.00 price objective on shares of Arvinas and gave the company a “buy” rating in a report on Friday, May 2nd. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.29.

Arvinas Trading Up 8.8%

The business has a 50-day moving average of $7.28 and a 200 day moving average of $14.08. The firm has a market capitalization of $549.62 million, a PE ratio of -2.72 and a beta of 2.19.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Thursday, May 1st. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.93) by $2.07. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same period last year, the business posted ($0.97) earnings per share. The business’s revenue for the quarter was up 646.2% on a year-over-year basis. On average, sell-side analysts expect that Arvinas, Inc. will post -3.81 EPS for the current fiscal year.

Insider Buying and Selling at Arvinas

In other news, insider Noah Berkowitz sold 8,658 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $8.59, for a total value of $74,372.22. Following the transaction, the insider now owns 110,023 shares in the company, valued at $945,097.57. The trade was a 7.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.73% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ARVN. GF Fund Management CO. LTD. purchased a new stake in shares of Arvinas during the 4th quarter valued at $28,000. Caitong International Asset Management Co. Ltd increased its holdings in Arvinas by 965.4% during the first quarter. Caitong International Asset Management Co. Ltd now owns 4,656 shares of the company’s stock worth $33,000 after buying an additional 4,219 shares during the last quarter. CWM LLC increased its holdings in Arvinas by 2,317.5% during the first quarter. CWM LLC now owns 7,615 shares of the company’s stock worth $53,000 after buying an additional 7,300 shares during the last quarter. KBC Group NV raised its position in Arvinas by 77.0% in the fourth quarter. KBC Group NV now owns 2,885 shares of the company’s stock worth $55,000 after acquiring an additional 1,255 shares during the period. Finally, Aigen Investment Management LP purchased a new position in Arvinas in the first quarter valued at about $77,000. Hedge funds and other institutional investors 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.