Arvinas (NASDAQ:ARVN) Stock Price Up 8.6% – Time to Buy?

Shares of Arvinas, Inc. (NASDAQ:ARVN) traded up 8.6% during mid-day trading on Wednesday . The stock traded as high as $18.97 and last traded at $19.60. 93,449 shares changed hands during trading, a decline of 88% from the average session volume of 775,078 shares. The stock had previously closed at $18.05.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. HC Wainwright restated a “buy” rating and set a $87.00 price objective on shares of Arvinas in a research report on Wednesday, December 11th. BMO Capital Markets cut their price objective on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. BTIG Research assumed coverage on shares of Arvinas in a research report on Tuesday, December 10th. They issued a “buy” rating and a $69.00 price target for the company. Barclays dropped their price target on shares of Arvinas from $48.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Guggenheim reiterated a “buy” rating on shares of Arvinas in a research report on Thursday, December 12th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $61.45.

Arvinas Price Performance

The firm’s 50-day simple moving average is $20.02 and its 200 day simple moving average is $23.73. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -4.22 and a beta of 1.88.

Institutional Trading of Arvinas

Several institutional investors have recently modified their holdings of ARVN. Sei Investments Co. lifted its holdings in Arvinas by 8.5% in the second quarter. Sei Investments Co. now owns 26,594 shares of the company’s stock valued at $708,000 after buying an additional 2,093 shares during the period. Marshall Wace LLP acquired a new stake in shares of Arvinas in the 2nd quarter worth about $538,000. Handelsbanken Fonder AB raised its holdings in shares of Arvinas by 17.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 19,525 shares of the company’s stock worth $481,000 after acquiring an additional 2,900 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Arvinas by 37.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company’s stock worth $164,000 after purchasing an additional 1,798 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in Arvinas in the 3rd quarter worth about $39,000. Institutional investors own 95.19% of the company’s stock.

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.