Arvinas (NASDAQ:ARVN) Shares Up 6.3% – Should You Buy?

Arvinas, Inc. (NASDAQ:ARVN)’s stock price shot up 6.3% during mid-day trading on Wednesday . The stock traded as high as $26.08 and last traded at $26.01. 165,484 shares were traded during mid-day trading, a decline of 77% from the average session volume of 715,303 shares. The stock had previously closed at $24.48.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ARVN shares. Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. HC Wainwright restated a “buy” rating and set a $87.00 target price on shares of Arvinas in a research note on Thursday, October 31st. BMO Capital Markets decreased their price target on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Wedbush restated an “outperform” rating and set a $57.00 price objective on shares of Arvinas in a research report on Tuesday, July 30th. Finally, Barclays decreased their target price on Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $61.08.

Arvinas Price Performance

The company has a market cap of $1.79 billion, a P/E ratio of -5.55 and a beta of 1.96. The stock has a 50-day moving average of $25.63 and a 200 day moving average of $26.82.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, beating the consensus estimate of ($0.88) by $0.20. The firm had revenue of $102.40 million during the quarter, compared to analyst estimates of $60.56 million. Arvinas’s quarterly revenue was up 196.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.18) earnings per share. Sell-side analysts predict that Arvinas, Inc. will post -3.32 EPS for the current year.

Hedge Funds Weigh In On Arvinas

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Arvinas by 29.9% in the first quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company’s stock valued at $260,046,000 after acquiring an additional 1,448,166 shares during the last quarter. American International Group Inc. grew its holdings in shares of Arvinas by 1.8% during the 1st quarter. American International Group Inc. now owns 24,857 shares of the company’s stock valued at $1,026,000 after purchasing an additional 449 shares during the last quarter. Kennedy Capital Management LLC acquired a new position in Arvinas during the 1st quarter worth approximately $2,795,000. Janus Henderson Group PLC increased its position in Arvinas by 55.1% during the 1st quarter. Janus Henderson Group PLC now owns 32,429 shares of the company’s stock worth $1,337,000 after purchasing an additional 11,520 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in Arvinas by 17.5% in the 1st quarter. California State Teachers Retirement System now owns 57,059 shares of the company’s stock valued at $2,355,000 after purchasing an additional 8,497 shares during the last quarter. Institutional investors own 95.19% of the company’s stock.

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.