Arvinas (NASDAQ:ARVN) Trading Up 6.7%

Arvinas, Inc. (NASDAQ:ARVN)’s share price shot up 6.7% during mid-day trading on Wednesday . The stock traded as high as $37.09 and last traded at $36.97. 233,341 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 709,782 shares. The stock had previously closed at $34.65.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wedbush reissued an “outperform” rating and set a $57.00 target price on shares of Arvinas in a report on Wednesday, May 8th. Truist Financial reaffirmed a “buy” rating and set a $65.00 target price on shares of Arvinas in a research report on Monday, March 25th. Leerink Partnrs reiterated an “outperform” rating on shares of Arvinas in a research report on Thursday, February 22nd. Wells Fargo & Company cut their price objective on Arvinas from $63.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, May 9th. Finally, The Goldman Sachs Group assumed coverage on shares of Arvinas in a research report on Thursday, February 1st. They issued a “buy” rating and a $70.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $61.13.

Arvinas Stock Performance

The business has a 50 day moving average of $36.07 and a two-hundred day moving average of $36.76.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Tuesday, May 7th. The company reported ($0.97) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.45. Arvinas had a negative return on equity of 64.79% and a negative net margin of 185.09%. The company had revenue of $25.30 million for the quarter, compared to analyst estimates of $32.94 million. During the same period in the prior year, the firm earned ($1.54) earnings per share. Arvinas’s revenue for the quarter was down 22.2% on a year-over-year basis. Analysts anticipate that Arvinas, Inc. will post -4.08 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Castleark Management LLC lifted its position in Arvinas by 7.6% in the 1st quarter. Castleark Management LLC now owns 76,990 shares of the company’s stock valued at $3,178,000 after acquiring an additional 5,420 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Arvinas by 17.5% in the first quarter. California State Teachers Retirement System now owns 57,059 shares of the company’s stock valued at $2,355,000 after purchasing an additional 8,497 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Arvinas by 55.1% during the first quarter. Janus Henderson Group PLC now owns 32,429 shares of the company’s stock valued at $1,337,000 after buying an additional 11,520 shares during the last quarter. Kennedy Capital Management LLC bought a new stake in Arvinas during the first quarter worth $2,795,000. Finally, Price T Rowe Associates Inc. MD raised its position in Arvinas by 14.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,368,418 shares of the company’s stock valued at $180,329,000 after buying an additional 536,295 shares during the last quarter. 95.19% of the stock is 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.