Arvinas (NASDAQ:ARVN) Shares Up 9.2% – What’s Next?

Arvinas, Inc. (NASDAQ:ARVN)’s share price was up 9.2% during trading on Friday . The company traded as high as $20.69 and last traded at $20.63. Approximately 360,360 shares were traded during trading, a decline of 29% from the average daily volume of 506,650 shares. The stock had previously closed at $18.89.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Guggenheim reaffirmed a “buy” rating on shares of Arvinas in a report on Thursday, December 12th. BTIG Research assumed coverage on Arvinas in a research note on Tuesday, December 10th. They issued a “buy” rating and a $69.00 price target for the company. Oppenheimer reduced their price objective on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Stephens assumed coverage on shares of Arvinas in a research report on Monday, November 18th. They issued an “overweight” rating and a $55.00 target price for the company. Finally, BMO Capital Markets reduced their price target on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $63.50.

Arvinas Price Performance

The business’s 50-day simple moving average is $23.33 and its two-hundred day simple moving average is $25.05. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -4.39 and a beta of 1.87.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) earnings per share for the quarter, beating the consensus estimate of ($0.88) by $0.20. The firm had revenue of $102.40 million for the quarter, compared to analyst estimates of $60.56 million. During the same period last year, the business earned ($1.18) EPS. The company’s revenue was up 196.0% compared to the same quarter last year. Equities research analysts forecast that Arvinas, Inc. will post -3.22 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. nVerses Capital LLC acquired a new stake in Arvinas during the 3rd quarter worth approximately $39,000. Quest Partners LLC acquired a new position in Arvinas in the 2nd quarter valued at approximately $42,000. Amalgamated Bank raised its stake in shares of Arvinas by 29.6% during the second quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock valued at $59,000 after acquiring an additional 508 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Arvinas by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock worth $61,000 after purchasing an additional 440 shares during the period. Finally, Quantbot Technologies LP grew its stake in shares of Arvinas by 147.3% in the third quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock worth $108,000 after purchasing an additional 2,601 shares during the last quarter. Institutional investors and hedge funds 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.