Arvinas (NASDAQ:ARVN) Trading Down 8.6% - Here's What Happened

Arvinas, Inc. (NASDAQ:ARVN - Get Free Report)'s share price fell 8.6% during trading on Tuesday . The company traded as low as $17.04 and last traded at $17.34. 118,118 shares changed hands during trading, a decline of 86% from the average session volume of 825,695 shares. The stock had previously closed at $18.97.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ARVN. BMO Capital Markets reissued an "outperform" rating and set a $82.00 target price (down previously from $88.00) on shares of Arvinas in a report on Wednesday. Oppenheimer increased their target price on Arvinas from $40.00 to $45.00 and gave the company an "outperform" rating in a report on Wednesday. Barclays cut their price target on Arvinas from $48.00 to $32.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Wedbush reaffirmed an "outperform" rating and issued a $57.00 price target on shares of Arvinas in a report on Tuesday. Finally, BTIG Research began coverage on Arvinas in a report on Tuesday, December 10th. They issued a "buy" rating and a $69.00 price target for the company. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Arvinas currently has an average rating of "Moderate Buy" and an average price target of $59.58.

Arvinas Stock Up 3.6 %

The company has a market capitalization of $1.26 billion, a PE ratio of -3.92 and a beta of 1.88. The firm has a 50-day moving average of $19.04 and a two-hundred day moving average of $23.28.

Arvinas (NASDAQ:ARVN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($1.07) by $0.44. During the same period in the previous year, the business earned ($2.53) earnings per share. On average, equities research analysts expect that Arvinas, Inc. will post -3.22 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ARVN. nVerses Capital LLC purchased a new position in shares of Arvinas during the third quarter worth $39,000. KBC Group NV boosted its position in shares of 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 buying an additional 1,255 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Arvinas by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company's stock worth $61,000 after buying an additional 440 shares during the period. Quantbot Technologies LP boosted its position in shares of Arvinas by 147.3% during the third quarter. Quantbot Technologies LP now owns 4,367 shares of the company's stock worth $108,000 after buying an additional 2,601 shares during the period. Finally, Exchange Traded Concepts LLC boosted its position in shares of Arvinas by 37.0% during the third quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company's stock worth $164,000 after buying an additional 1,798 shares during the period. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

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.