Arvinas Inc (NASDAQ:ARVN) was up 5.8% during trading on Wednesday . The stock traded as high as $51.71 and last traded at $51.61, approximately 253,467 shares changed hands during trading. An increase of 15% from the average daily volume of 220,317 shares. The stock had previously closed at $48.77.
Several research analysts have commented on ARVN shares. Roth Capital started coverage on shares of Arvinas in a research note on Thursday, November 14th. They set a “buy” rating and a $35.00 price objective for the company. Cantor Fitzgerald lifted their price objective on shares of Arvinas from $42.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. ValuEngine lowered shares of Arvinas from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Goldman Sachs Group raised shares of Arvinas from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $23.00 to $38.00 in a research note on Thursday, October 24th. Finally, Guggenheim started coverage on shares of Arvinas in a research note on Monday, November 25th. They set a “buy” rating and a $50.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $45.00.
The firm has a market capitalization of $1.74 billion, a P/E ratio of -2.03 and a beta of 2.72. The firm has a 50-day moving average price of $41.72 and a two-hundred day moving average price of $28.41. The company has a debt-to-equity ratio of 0.03, a current ratio of 6.79 and a quick ratio of 6.79.
Arvinas (NASDAQ:ARVN) last released its earnings results on Monday, November 4th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.67. Arvinas had a negative return on equity of 31.57% and a negative net margin of 157.34%. The business had revenue of $30.05 million during the quarter, compared to the consensus estimate of $11.42 million. Sell-side analysts predict that Arvinas Inc will post -1.36 earnings per share for the current fiscal year.
In other news, Director Liam Ratcliffe acquired 680,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was purchased at an average cost of $22.00 per share, for a total transaction of $14,960,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sean A. Cassidy sold 10,000 shares of Arvinas stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $32.00, for a total value of $320,000.00. Following the completion of the sale, the chief financial officer now owns 159,115 shares of the company’s stock, valued at $5,091,680. The disclosure for this sale can be found here. 31.77% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can raised its holdings in shares of Arvinas by 148,100.0% in the second quarter. Bank of Montreal Can now owns 1,482 shares of the company’s stock valued at $33,000 after acquiring an additional 1,481 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Arvinas by 5.6% in the third quarter. California State Teachers Retirement System now owns 28,596 shares of the company’s stock valued at $616,000 after acquiring an additional 1,508 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Arvinas in the third quarter valued at about $47,000. JPMorgan Chase & Co. raised its holdings in shares of Arvinas by 21.8% in the second quarter. JPMorgan Chase & Co. now owns 13,358 shares of the company’s stock valued at $317,000 after acquiring an additional 2,387 shares in the last quarter. Finally, Strs Ohio raised its holdings in shares of Arvinas by 276.2% in the third quarter. Strs Ohio now owns 7,900 shares of the company’s stock valued at $170,000 after acquiring an additional 5,800 shares in the last quarter. Hedge funds and other institutional investors own 47.79% of the company’s stock.
Arvinas Company Profile (NASDAQ:ARVN)
Arvinas, Inc, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its lead products include ARV-110, proteolysis targeting chimeras (PROTAC) that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer; and ARV-471, a PROTAC targeting the estrogen receptor protein for the treatment of women with metastatic ER positive/HER2 negative breast cancer.
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