Arvinas (NASDAQ:ARVN) Sees Strong Trading Volume – Here’s What Happened

Arvinas, Inc. (NASDAQ:ARVN) shares saw an uptick in trading volume on Wednesday . 1,303,409 shares were traded during trading, a decline of 10% from the previous session’s volume of 1,452,473 shares.The stock last traded at $8.41 and had previously closed at $8.30.

Analysts Set New Price Targets

ARVN has been the topic of several analyst reports. HC Wainwright reissued a “buy” rating and issued a $81.00 price target on shares of Arvinas in a report on Tuesday. BTIG Research initiated coverage on shares of Arvinas in a research note on Tuesday, December 10th. They issued a “buy” rating and a $69.00 target price on the stock. Oppenheimer downgraded Arvinas from an “outperform” rating to a “market perform” rating in a report on Tuesday. BMO Capital Markets set a $20.00 target price on Arvinas and gave the stock an “outperform” rating in a report on Wednesday. Finally, Stephens started coverage on Arvinas in a research report on Monday, November 18th. They issued an “overweight” rating and a $55.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $43.08.

Arvinas Price Performance

The stock’s 50 day simple moving average is $17.97 and its two-hundred day simple moving average is $22.20. The company has a market capitalization of $575.83 million, a P/E ratio of -3.02 and a beta of 1.95.

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 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 quarter in the prior year, the business posted ($2.53) EPS. As a group, equities research analysts expect that Arvinas, Inc. will post -3.81 earnings per share for the current year.

Insider Activity

In related news, CEO John G. Houston sold 31,338 shares of the 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 transaction, the chief executive officer now directly owns 1,157,480 shares in the company, valued at $19,353,065.60. This represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ian Taylor sold 9,020 shares of Arvinas stock in a transaction on 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 $2,658,911.91. This represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,572 shares of company stock valued at $695,030 over the last 90 days. 5.23% of the stock is owned by company insiders.

Institutional Trading of Arvinas

Hedge funds have recently modified their holdings of the company. GF Fund Management CO. LTD. bought a new stake in Arvinas in the fourth quarter valued at approximately $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Arvinas by 0.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 433,531 shares of the company’s stock valued at $8,311,000 after buying an additional 3,047 shares during the period. Voloridge Investment Management LLC bought a new stake in shares of Arvinas in the 4th quarter valued at $749,000. Woodline Partners LP increased its position in shares of Arvinas by 39.2% in the 4th quarter. Woodline Partners LP now owns 692,733 shares of the company’s stock valued at $13,280,000 after buying an additional 194,996 shares in the last quarter. Finally, Twinbeech Capital LP acquired a new stake in Arvinas during the 4th quarter worth $3,146,000. 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.