Arvinas (NASDAQ:ARVN) Shares Up 4.8% - Here's Why

Shares of Arvinas, Inc. (NASDAQ:ARVN - Get Free Report) traded up 4.8% on Thursday . The stock traded as high as $18.21 and last traded at $18.34. 730,243 shares changed hands during trading, a decline of 30% from the average session volume of 1,036,022 shares. The stock had previously closed at $17.50.

Analyst Upgrades and Downgrades

ARVN has been the subject of a number of recent analyst reports. Wedbush restated an "outperform" rating and issued a $57.00 target price on shares of Arvinas in a report on Tuesday, February 11th. Stephens started coverage on Arvinas in a research report on Monday, November 18th. They set an "overweight" rating and a $55.00 price target for the company. Guggenheim restated a "buy" rating and issued a $57.00 price objective on shares of Arvinas in a report on Wednesday, February 12th. Stifel Nicolaus reduced their price objective on Arvinas from $63.00 to $51.00 and set a "buy" rating on the stock in a research note on Wednesday, February 12th. Finally, Citigroup dropped their price objective on shares of Arvinas from $28.00 to $19.00 and set a "neutral" rating for the company in a research report on Friday. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $56.58.

Arvinas Price Performance

The stock has a 50-day moving average price of $18.22 and a 200-day moving average price of $22.38. The firm has a market capitalization of $1.21 billion, a PE ratio of -6.34 and a beta of 1.95.

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Arvinas (NASDAQ:ARVN - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the firm posted ($2.53) EPS. As a group, equities research analysts predict that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Arvinas

In other news, insider Ian Taylor sold 9,020 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $16.71, for a total value of $150,724.20. Following the sale, the insider now owns 159,121 shares in the company, valued at approximately $2,658,911.91. This represents a 5.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John G. Houston sold 31,338 shares of Arvinas stock in a transaction dated 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 transaction, the chief executive officer now owns 1,157,480 shares of the company's stock, valued at $19,353,065.60. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,572 shares of company stock worth $695,030 in the last ninety days. 5.23% of the stock is owned by insiders.

Hedge Funds Weigh In On Arvinas

Several large investors have recently added to or reduced their stakes in ARVN. GF Fund Management CO. LTD. acquired a new stake in shares of Arvinas during the fourth quarter worth $28,000. KBC Group NV raised its stake in Arvinas by 77.0% during the fourth quarter. KBC Group NV now owns 2,885 shares of the company's stock worth $55,000 after acquiring an additional 1,255 shares during the period. Quantbot Technologies LP lifted its holdings in Arvinas by 147.3% in the third quarter. Quantbot Technologies LP now owns 4,367 shares of the company's stock worth $108,000 after acquiring an additional 2,601 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Arvinas in the fourth quarter valued at approximately $171,000. Finally, Tema Etfs LLC bought a new position in shares of Arvinas during the fourth quarter valued at approximately $227,000. 95.19% of the stock is currently owned by institutional investors.

About Arvinas

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.