Arvinas (NASDAQ:ARVN) Stock Price Up 7.4% – Here’s What Happened

Arvinas, Inc. (NASDAQ:ARVN) shares shot up 7.4% during trading on Tuesday . The company traded as high as $19.75 and last traded at $19.67. 144,908 shares were traded during trading, a decline of 84% from the average session volume of 886,925 shares. The stock had previously closed at $18.31.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Stifel Nicolaus lowered their price objective on Arvinas from $63.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Guggenheim reissued a “buy” rating and issued a $57.00 price target on shares of Arvinas in a research note on Wednesday, February 12th. BTIG Research assumed coverage on shares of Arvinas in a research report on Tuesday, December 10th. They set a “buy” rating and a $69.00 price objective for the company. Wedbush reiterated an “outperform” rating and set a $57.00 target price on shares of Arvinas in a research report on Tuesday, February 11th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $82.00 target price (down from $88.00) on shares of Arvinas in a research note on Wednesday, February 12th. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, Arvinas currently has a consensus rating of “Buy” and a consensus price target of $60.00.

Arvinas Price Performance

The company has a market cap of $1.26 billion, a P/E ratio of -6.63 and a beta of 1.88. The stock has a fifty day moving average price of $18.55 and a two-hundred day moving average price of $23.02.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) 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 prior year, the business posted ($2.53) EPS. Equities analysts predict that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arvinas

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. purchased a new position in shares of Arvinas during the fourth quarter worth about $42,332,000. Norges Bank purchased a new position in Arvinas in the 4th quarter worth approximately $23,845,000. Boxer Capital Management LLC bought a new position in shares of Arvinas in the 4th quarter worth $20,294,000. Braidwell LP raised its position in shares of Arvinas by 148.3% during the 3rd quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock valued at $31,637,000 after buying an additional 767,242 shares in the last quarter. Finally, RTW Investments LP lifted its holdings in shares of Arvinas by 19.8% during the 4th quarter. RTW Investments LP now owns 3,334,308 shares of the company’s stock worth $63,919,000 after acquiring an additional 551,979 shares during the last quarter. 95.19% of the stock is currently owned by institutional investors.

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.