Arvinas (NASDAQ:ARVN) Trading 4.3% Higher - Time to Buy?

Arvinas, Inc. (NASDAQ:ARVN - Get Free Report)'s share price traded up 4.3% on Wednesday . The company traded as high as $29.18 and last traded at $28.68. 25,169 shares changed hands during trading, a decline of 96% from the average session volume of 716,115 shares. The stock had previously closed at $27.50.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ARVN shares. Wedbush reissued an "outperform" rating and issued a $57.00 target price on shares of Arvinas in a research note on Tuesday, July 30th. HC Wainwright reaffirmed a "buy" rating and issued a $87.00 price target on shares of Arvinas in a research note on Thursday, August 1st. Cantor Fitzgerald reissued an "overweight" rating on shares of Arvinas in a research report on Monday, September 9th. Oppenheimer dropped their target price on shares of Arvinas from $70.00 to $50.00 and set an "outperform" rating for the company in a research report on Wednesday, July 31st. Finally, Barclays decreased their price target on shares of Arvinas from $60.00 to $48.00 and set an "overweight" rating for the company in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Arvinas currently has an average rating of "Moderate Buy" and an average target price of $57.69.

Arvinas Trading Up 0.6 %

The stock's 50 day moving average is $25.53 and its 200-day moving average is $27.85. The company has a market cap of $1.90 billion, a P/E ratio of -4.66 and a beta of 1.97.

Arvinas (NASDAQ:ARVN - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, beating analysts' consensus estimates of ($0.88) by $0.20. The firm had revenue of $102.40 million for the quarter, compared to analysts' expectations of $60.56 million. The company's quarterly revenue was up 196.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.18) EPS. As a group, sell-side analysts forecast that Arvinas, Inc. will post -3.51 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Arvinas by 29.9% in the 1st quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company's stock worth $260,046,000 after buying an additional 1,448,166 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Arvinas by 14.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,368,418 shares of the company's stock valued at $180,329,000 after purchasing an additional 536,295 shares during the period. Candriam S.C.A. boosted its holdings in Arvinas by 32.0% in the second quarter. Candriam S.C.A. now owns 610,458 shares of the company's stock worth $16,250,000 after purchasing an additional 147,904 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Arvinas by 6.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 463,935 shares of the company's stock worth $12,347,000 after purchasing an additional 29,635 shares during the period. Finally, Opaleye Management Inc. grew its position in Arvinas by 25.1% in the 1st quarter. Opaleye Management Inc. now owns 330,000 shares of the company's stock worth $13,622,000 after purchasing an additional 66,300 shares during the period. 95.19% of the stock is 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.