Arvinas (NASDAQ:ARVN) Stock Price Up 4% – Should You Buy?

Arvinas, Inc. (NASDAQ:ARVN)’s stock price shot up 4% during mid-day trading on Thursday . The company traded as high as $9.09 and last traded at $9.05. 849,142 shares were traded during mid-day trading, a decline of 8% from the average session volume of 921,891 shares. The stock had previously closed at $8.70.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ARVN. BTIG Research began coverage on Arvinas in a research report on Tuesday, December 10th. They set a “buy” rating and a $69.00 price objective for the company. Bank of America reduced their price objective on Arvinas from $54.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Guggenheim reduced their price objective on Arvinas from $57.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Stifel Nicolaus reduced their price objective on Arvinas from $63.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Finally, Oppenheimer cut Arvinas from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 11th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Arvinas has an average rating of “Moderate Buy” and a consensus target price of $37.47.

Arvinas Stock Down 2.8 %

The company has a market capitalization of $601.76 million, a P/E ratio of -3.16 and a beta of 1.95. The stock has a fifty day simple moving average of $16.24 and a 200-day simple moving average of $21.29.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 previous year, the firm earned ($2.53) earnings per share. Analysts predict that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO John G. Houston sold 31,338 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $16.72, for a total value of $523,971.36. Following the completion of the sale, the chief executive officer now directly owns 1,157,480 shares in the company, valued at approximately $19,353,065.60. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Ian Taylor sold 9,020 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $16.71, for a total value of $150,724.20. Following the completion of the sale, the insider now owns 159,121 shares of the company’s stock, valued at approximately $2,658,911.91. This trade represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,230 shares of company stock worth $769,402. 5.23% of the stock is owned by corporate insiders.

Institutional Trading of Arvinas

Hedge funds and other institutional investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. acquired a new stake in Arvinas in the fourth quarter worth about $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Arvinas by 0.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 433,531 shares of the company’s stock worth $8,311,000 after purchasing an additional 3,047 shares during the period. Voloridge Investment Management LLC acquired a new stake in Arvinas in the fourth quarter worth about $749,000. Woodline Partners LP increased its position in Arvinas by 39.2% in the fourth quarter. Woodline Partners LP now owns 692,733 shares of the company’s stock worth $13,280,000 after purchasing an additional 194,996 shares during the period. Finally, Twinbeech Capital LP acquired a new stake in Arvinas in the fourth quarter worth about $3,146,000. 95.19% of the stock is currently owned by institutional investors and hedge funds.

Arvinas Company Profile

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.