Arvinas (NASDAQ:ARVN) Trading 4.3% Higher – What’s Next?

Arvinas, Inc. (NASDAQ:ARVN)’s stock price rose 4.3% during trading on Wednesday . The company traded as high as $29.18 and last traded at $28.68. Approximately 25,169 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 716,115 shares. The stock had previously closed at $27.50.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ARVN. Barclays cut their price target on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. HC Wainwright restated a “buy” rating and set a $87.00 target price on shares of Arvinas in a report on Thursday, August 1st. Oppenheimer reduced their price target on Arvinas from $70.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. Finally, Wedbush reissued an “outperform” rating and set a $57.00 price objective on shares of Arvinas in a research note on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $57.69.

Arvinas Trading Up 3.7 %

The company has a market cap of $1.96 billion, a PE ratio of -4.64 and a beta of 1.97. The stock has a 50 day moving average price of $25.53 and a 200 day moving average price of $27.85.

Arvinas (NASDAQ:ARVN) last announced its earnings results on Tuesday, July 30th. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($1.08) by $0.59. The business had revenue of $76.50 million for the quarter, compared to the consensus estimate of $33.27 million. The business’s quarterly revenue was up 40.4% on a year-over-year basis. During the same quarter last year, the firm posted ($1.25) EPS. Equities analysts expect that Arvinas, Inc. will post -3.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Arvinas

A number of institutional investors and hedge funds have recently made changes to their positions in ARVN. China Universal Asset Management Co. Ltd. grew its stake in shares of Arvinas by 64.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,203 shares of the company’s stock worth $325,000 after buying an additional 5,163 shares during the last quarter. abrdn plc increased its holdings in shares of Arvinas by 27.8% during the third quarter. abrdn plc now owns 78,585 shares of the company’s stock valued at $1,936,000 after acquiring an additional 17,093 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake 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 purchasing an additional 440 shares in the last quarter. E. Ohman J or Asset Management AB grew its position in Arvinas by 20.1% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 29,830 shares of the company’s stock valued at $735,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Arvinas during the 3rd quarter valued at about $3,442,000. 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.