Arvinas (NASDAQ:ARVN) Shares Up 8.7% – Here’s Why

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

Analysts Set New Price Targets

Several brokerages have issued reports on ARVN. Morgan Stanley lowered their target price on Arvinas from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Friday, May 9th. Piper Sandler reissued an “overweight” rating and issued a $14.00 price objective (down previously from $24.00) on shares of Arvinas in a report on Friday, May 2nd. HC Wainwright set a $24.00 price objective on shares of Arvinas in a report on Monday, June 2nd. Leerink Partnrs lowered shares of Arvinas from a “strong-buy” rating to a “hold” rating in a research report on Sunday, June 1st. Finally, Truist Financial reiterated a “hold” rating and issued a $11.00 target price (down previously from $21.00) on shares of Arvinas in a research note on Monday, May 5th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.29.

Arvinas Stock Up 8.8%

The business’s 50-day moving average price is $7.28 and its 200 day moving average price is $14.08. The company has a market capitalization of $549.62 million, a P/E ratio of -2.72 and a beta of 2.19.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings results on Thursday, May 1st. The company reported $1.14 EPS for the quarter, beating 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%. The business’s revenue was up 646.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.97) earnings per share. Analysts anticipate that Arvinas, Inc. will post -3.81 EPS for the current fiscal year.

Insider Activity at Arvinas

In related news, insider Noah Berkowitz sold 8,658 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $8.59, for a total value of $74,372.22. Following the transaction, the insider now directly owns 110,023 shares in the company, valued at approximately $945,097.57. This represents a 7.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.73% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arvinas

Hedge funds have recently bought and sold shares of the stock. GF Fund Management CO. LTD. bought a new position in shares of Arvinas in the 4th quarter worth $28,000. KBC Group NV increased its stake 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 last quarter. GAMMA Investing LLC raised its position in Arvinas by 11,283.8% during the first quarter. GAMMA Investing LLC now owns 4,212 shares of the company’s stock valued at $300,000 after purchasing an additional 4,175 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position 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 valued at $33,000 after purchasing an additional 4,219 shares in the last quarter. Finally, CWM LLC lifted its stake 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 purchasing an additional 7,300 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.