Stock Traders Buy High Volume of Arvinas Call Options (NASDAQ:ARVN)

Arvinas, Inc. (NASDAQ:ARVN) was the recipient of some unusual options trading activity on Wednesday. Traders acquired 5,428 call options on the company. This is an increase of 155% compared to the average daily volume of 2,130 call options.

Arvinas Price Performance

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

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, topping the consensus estimate 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 in the prior year, the company posted ($2.53) EPS. Research analysts forecast that Arvinas will post -3.81 earnings per share for the current fiscal year.

Insider Transactions at Arvinas

In other news, CEO John G. Houston sold 31,338 shares of Arvinas stock in a transaction that occurred on Monday, February 24th. The stock was 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 in the company, valued at approximately $19,353,065.60. The trade was a 2.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ian Taylor sold 9,020 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $16.71, for a total transaction of $150,724.20. Following the completion of the sale, the insider now directly owns 159,121 shares in the company, valued at approximately $2,658,911.91. This represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,572 shares of company stock worth $695,030 in the last three months. Insiders own 5.23% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Arvinas during the fourth quarter worth about $42,332,000. Norges Bank acquired a new stake in Arvinas in the 4th quarter worth about $23,845,000. Boxer Capital Management LLC purchased a new stake in Arvinas during the 4th quarter worth approximately $20,294,000. Braidwell LP raised its holdings in shares of Arvinas by 148.3% during the third quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock valued at $31,637,000 after acquiring an additional 767,242 shares during the last quarter. Finally, RTW Investments LP lifted its position in shares of Arvinas by 19.8% in the fourth quarter. RTW Investments LP now owns 3,334,308 shares of the company’s stock valued at $63,919,000 after acquiring an additional 551,979 shares in the last quarter. 95.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ARVN has been the subject of several research reports. Stifel Nicolaus dropped their price target on Arvinas from $63.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Oppenheimer raised their target price on shares of Arvinas from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. BTIG Research began coverage on shares of Arvinas in a report on Tuesday, December 10th. They issued a “buy” rating and a $69.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $87.00 price objective on shares of Arvinas in a research note on Wednesday, December 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a research note on Friday, February 7th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Arvinas currently has an average rating of “Buy” and a consensus target price of $60.00.

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.