Arvinas (NASDAQ:ARVN) Shares Up 6.8%

Arvinas, Inc. (NASDAQ:ARVNGet Rating) shares shot up 6.8% on Wednesday . The stock traded as high as $38.55 and last traded at $38.45. 3,358 shares changed hands during trading, a decline of 99% from the average session volume of 473,004 shares. The stock had previously closed at $36.01.

Several research firms have weighed in on ARVN. Morgan Stanley began coverage on shares of Arvinas in a report on Wednesday, April 6th. They set an “equal weight” rating and a $65.00 price objective on the stock. Stifel Europe reduced their target price on shares of Arvinas from $85.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, May 5th. Credit Suisse Group assumed coverage on shares of Arvinas in a research note on Thursday, April 28th. They issued an “outperform” rating and a $104.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research note on Friday, April 1st. Finally, The Goldman Sachs Group reduced their target price on shares of Arvinas from $111.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, May 24th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $100.31.

The stock has a market cap of $2.00 billion, a P/E ratio of -8.64 and a beta of 2.07. The firm’s fifty day moving average price is $50.99 and its 200-day moving average price is $63.61.

Arvinas (NASDAQ:ARVNGet Rating) last issued its earnings results on Thursday, May 5th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.29). Arvinas had a negative return on equity of 29.38% and a negative net margin of 326.72%. The firm had revenue of $24.20 million during the quarter, compared to the consensus estimate of $25.51 million. The business’s revenue for the quarter was up 340.0% compared to the same quarter last year. On average, sell-side analysts forecast that Arvinas, Inc. will post -4.52 EPS for the current year.

In other news, Director Briggs Morrison sold 20,960 shares of the firm’s stock in a transaction that occurred on Thursday, April 14th. The shares were sold at an average price of $66.44, for a total value of $1,392,582.40. Following the transaction, the director now owns 19,976 shares in the company, valued at $1,327,205.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.78% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in ARVN. Advisor Group Holdings Inc. boosted its holdings in Arvinas by 142.7% in the third quarter. Advisor Group Holdings Inc. now owns 415 shares of the company’s stock valued at $34,000 after acquiring an additional 244 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Arvinas during the third quarter valued at $41,000. First Quadrant L P CA purchased a new position in Arvinas during the fourth quarter valued at $47,000. Lindbrook Capital LLC purchased a new position in Arvinas during the fourth quarter valued at $57,000. Finally, Lazard Asset Management LLC purchased a new position in Arvinas during the first quarter valued at $57,000. Institutional investors and hedge funds own 84.52% of the company’s stock.

Arvinas Company Profile (NASDAQ:ARVN)

Arvinas, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its lead product candidates include Bavdegalutamide, a proteolysis targeting chimera (PROTAC) protein degrader that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer (mCRPC); ARV-471, a PROTAC protein degrader targeting the estrogen receptor protein for the treatment of patients with metastatic ER positive/HER2 negative breast cancer; and ARV-766 an investigational orally bioavailable PROTAC protein degrader for the treatment of men with mCRPC.

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