Arvinas Sees Unusually High Options Volume (NASDAQ:ARVN)

Arvinas, Inc. (NASDAQ:ARVN) was the target of unusually large options trading activity on Wednesday. Stock investors purchased 5,428 call options on the stock. This is an increase of approximately 155% compared to the typical daily volume of 2,130 call options.

Arvinas Trading Up 4.4 %

Shares of Arvinas stock traded up $0.72 on Wednesday, hitting $17.24. The stock had a trading volume of 720,649 shares, compared to its average volume of 1,031,487. Arvinas has a 52-week low of $15.53 and a 52-week high of $49.76. The company’s 50 day moving average price is $18.28 and its 200 day moving average price is $22.53. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -6.25 and a beta of 1.95.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.44. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same quarter in the previous year, the company posted ($2.53) earnings per share. Analysts predict that Arvinas will post -3.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on ARVN. BMO Capital Markets reiterated an “outperform” rating and set a $82.00 price target (down previously from $88.00) on shares of Arvinas in a report on Wednesday, February 12th. Wedbush reiterated an “outperform” rating and set a $57.00 target price on shares of Arvinas in a research note on Tuesday, February 11th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a report on Friday, February 7th. HC Wainwright reaffirmed a “buy” rating and set a $87.00 price target on shares of Arvinas in a report on Wednesday, December 11th. Finally, Stifel Nicolaus lowered their price objective on Arvinas from $63.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $60.00.

Insider Transactions at Arvinas

In other news, insider Ian Taylor sold 9,020 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $16.71, for a total transaction of $150,724.20. Following the sale, the insider now owns 159,121 shares of the company’s stock, valued at approximately $2,658,911.91. This represents a 5.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John G. Houston sold 31,338 shares of Arvinas stock in a transaction on Monday, February 24th. The shares were 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 approximately $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. Over the last quarter, insiders have sold 41,572 shares of company stock valued at $695,030. 5.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arvinas

Several institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 purchasing an additional 440 shares in the last quarter. Invesco Ltd. increased its position in Arvinas by 1.6% during the 4th quarter. Invesco Ltd. now owns 37,254 shares of the company’s stock worth $714,000 after purchasing an additional 581 shares during the period. Rhumbline Advisers lifted its holdings in Arvinas by 0.9% in the fourth quarter. Rhumbline Advisers now owns 87,877 shares of the company’s stock valued at $1,685,000 after acquiring an additional 754 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Arvinas by 0.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 140,518 shares of the company’s stock worth $2,694,000 after purchasing an additional 777 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Arvinas by 2.7% during the 4th quarter. Bank of Montreal Can now owns 39,407 shares of the company’s stock worth $755,000 after purchasing an additional 1,044 shares in the last quarter. Institutional investors and hedge funds 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.