Arvinas (NASDAQ:ARVN) Stock Price Up 6.3% – What’s Next?

Arvinas, Inc. (NASDAQ:ARVN) was up 6.3% during mid-day trading on Wednesday. The company traded as high as $7.97 and last traded at $7.97. Approximately 246,730 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 827,873 shares. The stock had previously closed at $7.50.

Analyst Upgrades and Downgrades

ARVN has been the topic of several research analyst reports. Morgan Stanley set a $10.00 price objective on Arvinas in a research note on Monday, August 10th. Citigroup lowered their target price on Arvinas from $24.00 to $21.00 and set a “buy” rating for the company in a report on Monday, August 10th. Wall Street Zen raised Arvinas from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. BTIG Research reissued a “buy” rating and set a $18.00 price target on shares of Arvinas in a research report on Tuesday, August 4th. Finally, Stephens restated an “overweight” rating and set a $18.00 price target on shares of Arvinas in a research note on Wednesday, June 3rd. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Arvinas has an average rating of “Hold” and an average price target of $14.55.

Arvinas Price Performance

The firm has a market capitalization of $509.39 million, a P/E ratio of 79.61 and a beta of 1.75. The stock’s fifty day simple moving average is $8.68 and its 200 day simple moving average is $9.14.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Tuesday, August 4th. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $2.95. Arvinas had a net margin of 2.94% and a return on equity of 1.91%. The business had revenue of $249.70 million for the quarter, compared to analysts’ expectations of $60.71 million. During the same period last year, the business earned ($0.84) EPS. The company’s revenue was up 1014.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Arvinas, Inc. will post 0.05 EPS for the current fiscal year.

Institutional Trading of Arvinas

A number of institutional investors have recently bought and sold shares of ARVN. Integrated Wealth Concepts LLC acquired a new position in shares of Arvinas in the 2nd quarter valued at $48,000. Quantbot Technologies LP acquired a new stake in Arvinas during the 2nd quarter worth about $85,000. Globeflex Capital L P acquired a new stake in Arvinas during the 4th quarter worth about $132,000. Corient Private Wealth LP purchased a new stake in Arvinas during the 2nd quarter valued at about $95,000. Finally, Pale Fire Capital SE purchased a new stake in Arvinas during the 2nd quarter valued at about $99,000. 95.19% of the stock is currently owned by institutional investors and hedge funds.

About Arvinas

Arvinas, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that selectively remove disease-causing proteins from cells. The company’s approach, known as targeted protein degradation, uses proprietary PROTAC technology to direct specific proteins to the cell’s natural disposal machinery. Arvinas applies this platform primarily to cancer and other serious diseases in which abnormal or unwanted proteins contribute to disease progression.

Arvinas’ pipeline has included vepdegestrant, formerly known as ARV-471, an investigational oral estrogen receptor degrader being developed for patients with estrogen receptor-positive, HER2-negative breast cancer.