Arvinas (NASDAQ:ARVN) Sees Strong Trading Volume – Still a Buy?

Shares of Arvinas, Inc. (NASDAQ:ARVN) saw strong trading volume on Wednesday . 1,303,409 shares were traded during mid-day trading, a decline of 10% from the previous session’s volume of 1,452,473 shares.The stock last traded at $8.41 and had previously closed at $8.30.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ARVN shares. Guggenheim reiterated a “buy” rating and issued a $57.00 price target on shares of Arvinas in a report on Wednesday, February 12th. Wells Fargo & Company set a $26.00 target price on shares of Arvinas and gave the stock an “overweight” rating in a research note on Wednesday. BMO Capital Markets set a $20.00 price target on Arvinas and gave the company an “outperform” rating in a research note on Wednesday. Bank of America reduced their price objective on Arvinas from $54.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Oppenheimer downgraded Arvinas from an “outperform” rating to a “market perform” rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Arvinas currently has an average rating of “Moderate Buy” and a consensus price target of $43.08.

Arvinas Price Performance

The business has a 50-day simple moving average of $17.97 and a two-hundred day simple moving average of $22.20. The stock has a market cap of $575.83 million, a price-to-earnings ratio of -3.02 and a beta of 1.95.

Arvinas (NASDAQ:ARVN) last posted its 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 return on equity of 33.75% and a negative net margin of 75.51%. During the same quarter last year, the firm posted ($2.53) EPS. As a group, equities analysts anticipate that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO John G. Houston sold 31,338 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.72, for a total transaction of $523,971.36. Following the transaction, the chief executive officer now owns 1,157,480 shares in the company, valued at approximately $19,353,065.60. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ian Taylor sold 9,020 shares of Arvinas stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.71, for a total value of $150,724.20. Following the sale, the insider now directly owns 159,121 shares of the company’s stock, valued at approximately $2,658,911.91. The trade was a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,572 shares of company stock valued at $695,030 over the last ninety days. 5.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arvinas

A number of institutional investors have recently modified their holdings of ARVN. GF Fund Management CO. LTD. bought a new position in Arvinas during the fourth quarter worth about $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Arvinas by 0.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 433,531 shares of the company’s stock worth $8,311,000 after purchasing an additional 3,047 shares during the period. Voloridge Investment Management LLC acquired a new stake in shares of Arvinas in the fourth quarter valued at approximately $749,000. Woodline Partners LP raised its position in shares of Arvinas by 39.2% in the fourth quarter. Woodline Partners LP now owns 692,733 shares of the company’s stock valued at $13,280,000 after buying an additional 194,996 shares in the last quarter. Finally, Twinbeech Capital LP bought a new stake in shares of Arvinas in the fourth quarter valued at approximately $3,146,000. 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.