Arvinas (NASDAQ:ARVN) Trading 4% Higher – Here’s What Happened

Arvinas, Inc. (NASDAQ:ARVN)’s stock price shot up 4% during mid-day trading on Thursday . The stock traded as high as $9.09 and last traded at $9.05. 849,142 shares changed hands during mid-day trading, a decline of 8% from the average session volume of 921,891 shares. The stock had previously closed at $8.70.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. BTIG Research began coverage on Arvinas in a research report on Tuesday, December 10th. They set a “buy” rating and a $69.00 price target on the stock. Stifel Nicolaus decreased their target price on Arvinas from $63.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. HC Wainwright restated a “buy” rating and issued a $81.00 price target on shares of Arvinas in a research note on Tuesday, March 11th. Morgan Stanley reduced their price objective on shares of Arvinas from $48.00 to $12.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Finally, The Goldman Sachs Group lowered shares of Arvinas from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $70.00 to $15.00 in a research report on Thursday, March 13th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Arvinas has an average rating of “Moderate Buy” and a consensus price target of $37.47.

Arvinas Trading Up 5.3 %

The firm’s 50-day moving average price is $16.65 and its 200 day moving average price is $21.50. The company has a market capitalization of $630.23 million, a price-to-earnings ratio of -3.31 and a beta of 1.95.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($1.07) by $0.44. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. During the same period last year, the firm earned ($2.53) EPS. As a group, equities research analysts anticipate that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

Insider Transactions at Arvinas

In other news, insider Ian Taylor sold 9,020 shares of Arvinas stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $16.71, for a total transaction of $150,724.20. Following the sale, the insider now directly owns 159,121 shares of the company’s stock, valued at approximately $2,658,911.91. This trade represents a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John G. Houston sold 31,338 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $16.72, for a total value of $523,971.36. Following the completion of the transaction, the chief executive officer now directly owns 1,157,480 shares of the company’s stock, valued at $19,353,065.60. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,230 shares of company stock worth $769,402. Corporate insiders own 5.23% of the company’s stock.

Institutional Investors Weigh In On Arvinas

Several hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. raised its stake in shares of Arvinas by 1.6% during the fourth quarter. Invesco Ltd. now owns 37,254 shares of the company’s stock valued at $714,000 after acquiring an additional 581 shares during the last quarter. Rhumbline Advisers raised its position in Arvinas by 0.9% during the 4th quarter. Rhumbline Advisers now owns 87,877 shares of the company’s stock worth $1,685,000 after purchasing an additional 754 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Arvinas by 0.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 140,518 shares of the company’s stock worth $2,694,000 after buying an additional 777 shares during the period. Bank of Montreal Can grew its position in shares of Arvinas by 2.7% in the 4th quarter. Bank of Montreal Can now owns 39,407 shares of the company’s stock valued at $755,000 after buying an additional 1,044 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of 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 buying an additional 1,255 shares during the period. 95.19% of the stock is currently owned by institutional investors and hedge funds.

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.