Arvinas (NASDAQ:ARVN) Trading Up 8.6% – What’s Next?

Arvinas, Inc. (NASDAQ:ARVN)’s share price was up 8.6% during mid-day trading on Wednesday . The company traded as high as $18.97 and last traded at $19.60. Approximately 93,449 shares traded hands during trading, a decline of 88% from the average daily volume of 775,078 shares. The stock had previously closed at $18.05.

Analyst Ratings Changes

A number of brokerages have commented on ARVN. BMO Capital Markets reduced their price objective on Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Guggenheim reiterated a “buy” rating on shares of Arvinas in a report on Thursday, December 12th. BTIG Research started coverage on Arvinas in a research note on Tuesday, December 10th. They set a “buy” rating and a $69.00 price target for the company. Stephens started coverage on Arvinas in a research note on Monday, November 18th. They issued an “overweight” rating and a $55.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $87.00 price objective on shares of Arvinas in a report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.45.

Arvinas Price Performance

The business has a fifty day moving average of $19.75 and a 200-day moving average of $23.67. The stock has a market cap of $1.36 billion, a PE ratio of -4.25 and a beta of 1.88.

Institutional Investors Weigh In On Arvinas

Several institutional investors have recently bought and sold shares of ARVN. nVerses Capital LLC acquired a new position in Arvinas during the 3rd quarter valued at approximately $39,000. KBC Group NV boosted its position in Arvinas by 77.0% in the 4th quarter. KBC Group NV now owns 2,885 shares of the company’s stock worth $55,000 after purchasing an additional 1,255 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Arvinas by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock worth $61,000 after purchasing an additional 440 shares during the period. Quantbot Technologies LP increased its holdings in shares of Arvinas by 147.3% during the 3rd quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock valued at $108,000 after purchasing an additional 2,601 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Arvinas by 37.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company’s stock valued at $164,000 after purchasing an additional 1,798 shares during the period. 95.19% of the stock is currently owned by institutional investors and hedge funds.

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.