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

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on ARVN. BTIG Research initiated coverage on Arvinas in a research note on Tuesday, December 10th. They issued a “buy” rating and a $69.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $87.00 target price on shares of Arvinas in a research note on Wednesday, December 11th. Barclays dropped their price target on shares of Arvinas from $48.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday. Stephens started coverage on shares of Arvinas in a research note on Monday, November 18th. They set an “overweight” rating and a $55.00 price objective for the company. Finally, Guggenheim reaffirmed a “buy” rating on shares of Arvinas in a report on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.45.

Arvinas Stock Up 4.0 %

The business’s fifty day moving average is $19.75 and its 200-day moving average is $23.67. The stock has a market capitalization 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 and hedge funds have recently made changes to their positions in ARVN. JPMorgan Chase & Co. lifted its stake in Arvinas by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock valued at $57,371,000 after buying an additional 367,343 shares during the last quarter. Baker BROS. Advisors LP bought a new stake in Arvinas in the 3rd quarter valued at about $9,989,000. SG Americas Securities LLC lifted its position in Arvinas by 228.8% in the 4th quarter. SG Americas Securities LLC now owns 32,424 shares of the company’s stock valued at $622,000 after purchasing an additional 22,564 shares during the last quarter. Wasatch Advisors LP grew its position in Arvinas by 58.3% in the 3rd quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock worth $10,737,000 after purchasing an additional 160,510 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of Arvinas by 198.9% in the third quarter. Barclays PLC now owns 121,699 shares of the company’s stock valued at $2,998,000 after purchasing an additional 80,984 shares during the period. 95.19% of the stock is 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.