Arvinas (NASDAQ:ARVN) Sees Large Volume Increase - Here's What Happened

Shares of Arvinas, Inc. (NASDAQ:ARVN - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 1,303,409 shares were traded during mid-day trading, a decline of 10% from the previous session's volume of 1,452,473 shares.The stock last traded at $8.41 and had previously closed at $8.30.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ARVN shares. Morgan Stanley dropped their price target on shares of Arvinas from $48.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Thursday. Wedbush cut shares of Arvinas from an "outperform" rating to a "neutral" rating and dropped their price target for the stock from $57.00 to $12.00 in a research report on Wednesday. Stifel Nicolaus dropped their price target on shares of Arvinas from $63.00 to $51.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th. Stephens initiated coverage on Arvinas in a report on Monday, November 18th. They set an "overweight" rating and a $55.00 price objective on the stock. Finally, HC Wainwright restated a "buy" rating and set a $81.00 price objective on shares of Arvinas in a report on Tuesday, March 11th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Arvinas currently has a consensus rating of "Moderate Buy" and an average target price of $37.47.

Arvinas Trading Down 1.4 %

The company has a market cap of $579.75 million, a price-to-earnings ratio of -3.04 and a beta of 1.95. The business has a fifty day moving average price of $17.32 and a two-hundred day moving average price of $21.84.

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Arvinas (NASDAQ:ARVN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate 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 period in the previous year, the business posted ($2.53) earnings per share. On average, analysts anticipate that Arvinas, Inc. will post -3.81 EPS for the current year.

Insider Activity at Arvinas

In other Arvinas news, CEO John G. Houston sold 31,338 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.72, for a total transaction of $523,971.36. Following the completion of the sale, the chief executive officer now owns 1,157,480 shares of the company's stock, valued at $19,353,065.60. This represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ian Taylor sold 9,020 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.71, for a total value of $150,724.20. Following the sale, the insider now directly owns 159,121 shares of the company's stock, valued at $2,658,911.91. The trade was a 5.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,572 shares of company stock valued at $695,030. 5.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arvinas

A number of large investors have recently added to or reduced their stakes in ARVN. T. Rowe Price Investment Management Inc. bought a new stake in Arvinas during the fourth quarter worth approximately $42,332,000. Norges Bank bought a new stake in Arvinas during the fourth quarter worth approximately $23,845,000. Boxer Capital Management LLC bought a new stake in Arvinas during the fourth quarter worth approximately $20,294,000. Braidwell LP boosted its position in Arvinas by 148.3% during the third quarter. Braidwell LP now owns 1,284,472 shares of the company's stock worth $31,637,000 after purchasing an additional 767,242 shares during the period. Finally, RTW Investments LP boosted its position in Arvinas by 19.8% during the fourth quarter. RTW Investments LP now owns 3,334,308 shares of the company's stock worth $63,919,000 after purchasing an additional 551,979 shares during the period. Institutional investors own 95.19% of the company's stock.

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.