Arvinas (NASDAQ:ARVN) Stock Price Up 4.4%

Shares of Arvinas, Inc. (NASDAQ:ARVN) shot up 4.4% during trading on Wednesday . The company traded as high as $25.59 and last traded at $25.53. 164,506 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 744,657 shares. The stock had previously closed at $24.46.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ARVN shares. Stifel Nicolaus dropped their price objective on shares of Arvinas from $72.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Oppenheimer restated an “outperform” rating and issued a $80.00 price target (down previously from $95.00) on shares of Arvinas in a research report on Wednesday, February 28th. Wells Fargo & Company lowered their target price on shares of Arvinas from $63.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, May 9th. BMO Capital Markets increased their price target on shares of Arvinas from $89.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Finally, Wedbush restated an “outperform” rating and set a $57.00 price objective on shares of Arvinas in a report on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $61.13.

Arvinas Stock Performance

The firm has a 50-day moving average of $30.83 and a two-hundred day moving average of $37.98.

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

Institutional Trading of Arvinas

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Corton Capital Inc. lifted its stake in Arvinas by 132.9% during the third quarter. Corton Capital Inc. now owns 21,750 shares of the company’s stock worth $427,000 after purchasing an additional 12,411 shares during the last quarter. Great Point Partners LLC acquired a new stake in shares of Arvinas in the 4th quarter valued at about $9,635,000. Boxer Capital LLC acquired a new stake in shares of Arvinas in the 4th quarter valued at about $25,051,000. Charles Schwab Investment Management Inc. lifted its position in Arvinas by 9.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 469,474 shares of the company’s stock valued at $19,324,000 after acquiring an additional 39,484 shares in the last quarter. Finally, Rhenman & Partners Asset Management AB lifted its position in Arvinas by 58.0% in the 4th quarter. Rhenman & Partners Asset Management AB now owns 134,270 shares of the company’s stock valued at $5,527,000 after acquiring an additional 49,270 shares in the last quarter. Institutional investors own 95.19% of the company’s stock.

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.