Arvinas (NASDAQ:ARVN) Sees Unusually-High Trading Volume – Here’s What Happened

Arvinas, Inc. (NASDAQ:ARVN) shares saw unusually-high trading volume on Wednesday . Approximately 1,303,409 shares changed hands during 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 Ratings Changes

Several equities analysts have recently weighed in on the company. Stifel Nicolaus decreased their target price on Arvinas from $63.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Wells Fargo & Company set a $26.00 price objective on Arvinas and gave the company an “overweight” rating in a report on Wednesday. Barclays dropped their target price on shares of Arvinas from $48.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Citigroup cut their price objective on shares of Arvinas from $28.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a report on Friday, February 7th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.47.

Arvinas Stock Performance

The company has a 50 day moving average of $17.56 and a 200-day moving average of $22.02. The stock has a market cap of $588.00 million, a price-to-earnings ratio of -3.09 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 (EPS) for the quarter, topping the consensus estimate 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 firm earned ($2.53) EPS. On average, research analysts anticipate that Arvinas, Inc. will post -3.81 EPS for the current year.

Insider Activity

In other news, 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 transaction of $523,971.36. Following the completion of the sale, the chief executive officer now directly owns 1,157,480 shares of the company’s stock, valued at approximately $19,353,065.60. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ian Taylor sold 9,020 shares of the business’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 transaction, the insider now 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,572 shares of company stock worth $695,030. Corporate insiders own 5.23% of the company’s stock.

Institutional Trading of Arvinas

A number of institutional investors have recently bought and sold shares of ARVN. Vanguard Group Inc. increased its holdings in shares of Arvinas by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 7,062,561 shares of the company’s stock valued at $135,389,000 after acquiring an additional 56,561 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Arvinas by 6.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,103,011 shares of the company’s stock valued at $78,656,000 after purchasing an additional 249,295 shares in the last quarter. RTW Investments LP increased its stake in 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 purchasing an additional 551,979 shares during the last quarter. FMR LLC raised its holdings in Arvinas by 7.6% during the third quarter. FMR LLC now owns 2,883,604 shares of the company’s stock worth $71,023,000 after purchasing an additional 204,317 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Arvinas by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock worth $57,371,000 after buying an additional 367,343 shares during the last quarter. 95.19% of the stock is owned by hedge funds and other institutional investors.

Arvinas Company Profile

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.