Arvinas, Inc. (NASDAQ:ARVN - Get Free Report)'s share price traded down 6.2% during trading on Thursday . The company traded as low as $17.37 and last traded at $17.46. 576,232 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 730,427 shares. The stock had previously closed at $18.61.
Analyst Ratings Changes
A number of analysts have recently weighed in on the company. Stephens assumed coverage on Arvinas in a research note on Monday, November 18th. They issued an "overweight" rating and a $55.00 target price for the company. Oppenheimer reduced their target price on shares of Arvinas from $50.00 to $40.00 and set an "outperform" rating on the stock in a research report on Thursday, October 31st. BTIG Research started coverage on shares of Arvinas in a research report on Tuesday, December 10th. They issued a "buy" rating and a $69.00 price objective for the company. BMO Capital Markets lowered their target price on Arvinas from $90.00 to $88.00 and set an "outperform" rating for the company in a research note on Wednesday, November 20th. Finally, Guggenheim reiterated a "buy" rating on shares of Arvinas in a report on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $63.50.
Get Our Latest Research Report on Arvinas
Arvinas Trading Down 4.2 %
The firm has a market cap of $1.23 billion, a P/E ratio of -3.82 and a beta of 1.82. The firm's 50 day moving average is $25.13 and its two-hundred day moving average is $25.71.
Arvinas (NASDAQ:ARVN - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share for the quarter, topping analysts' consensus estimates of ($0.88) by $0.20. The firm had revenue of $102.40 million for the quarter, compared to the consensus estimate of $60.56 million. During the same period in the prior year, the business earned ($1.18) earnings per share. The company's revenue for the quarter was up 196.0% compared to the same quarter last year. Analysts predict that Arvinas, Inc. will post -3.22 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARVN. Baker BROS. Advisors LP bought a new position in shares of Arvinas during the 3rd quarter valued at about $9,989,000. Wasatch Advisors LP lifted its stake in Arvinas by 58.3% in the third quarter. Wasatch Advisors LP now owns 435,943 shares of the company's stock valued at $10,737,000 after buying an additional 160,510 shares in the last quarter. Candriam S.C.A. lifted its stake in Arvinas by 32.0% in the second quarter. Candriam S.C.A. now owns 610,458 shares of the company's stock valued at $16,250,000 after buying an additional 147,904 shares in the last quarter. Magnetar Financial LLC boosted its holdings in shares of Arvinas by 112.7% in the second quarter. Magnetar Financial LLC now owns 41,992 shares of the company's stock valued at $1,118,000 after buying an additional 22,245 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Arvinas by 32.6% during the second quarter. Bank of New York Mellon Corp now owns 235,096 shares of the company's stock worth $6,258,000 after acquiring an additional 57,835 shares in the last quarter. 95.19% of the stock is owned by institutional investors and hedge funds.
About Arvinas
(
Get Free Report)
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.
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