Arvinas (NASDAQ:ARVN) Trading 7.4% Higher – Here’s Why

Arvinas, Inc. (NASDAQ:ARVN) shares were up 7.4% during mid-day trading on Tuesday . The company traded as high as $19.75 and last traded at $19.67. Approximately 144,908 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 886,925 shares. The stock had previously closed at $18.31.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ARVN shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a report on Friday, February 7th. Guggenheim reiterated a “buy” rating and issued a $57.00 target price on shares of Arvinas in a report on Wednesday, February 12th. BTIG Research started coverage on Arvinas in a report on Tuesday, December 10th. They issued a “buy” rating and a $69.00 target price on the stock. Oppenheimer raised their price objective on Arvinas from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus dropped their price objective on Arvinas from $63.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $60.00.

Arvinas Trading Up 1.8 %

The stock has a market capitalization of $1.28 billion, a PE ratio of -3.99 and a beta of 1.88. The firm has a 50-day moving average price of $18.63 and a 200-day moving average price of $23.05.

Arvinas (NASDAQ:ARVN) last announced its earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.07) by $0.44. During the same period in the previous year, the business earned ($2.53) EPS. Sell-side analysts expect that Arvinas, Inc. will post -3.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arvinas

Large investors have recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new stake in Arvinas in the 3rd quarter worth about $39,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Arvinas by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock worth $61,000 after acquiring an additional 440 shares during the last quarter. KBC Group NV increased its holdings in Arvinas by 77.0% in the 4th quarter. KBC Group NV now owns 2,885 shares of the company’s stock worth $55,000 after acquiring an additional 1,255 shares during the last quarter. Quantbot Technologies LP increased its holdings in Arvinas by 147.3% in the 3rd quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock worth $108,000 after acquiring an additional 2,601 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in Arvinas by 37.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company’s stock worth $164,000 after acquiring an additional 1,798 shares during the last quarter. Hedge funds and other 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.