Arvinas (NASDAQ:ARVN) Sets New 52-Week High at $48.36

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Arvinas Inc (NASDAQ:ARVN) reached a new 52-week high during trading on Tuesday . The stock traded as high as $48.36 and last traded at $48.36, with a volume of 4329 shares traded. The stock had previously closed at $46.74.

Several research firms have recently commented on ARVN. Wedbush began coverage on Arvinas in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $38.00 price objective on the stock. Roth Capital began coverage on Arvinas in a research note on Thursday, November 14th. They issued a “buy” rating and a $35.00 price objective on the stock. Zacks Investment Research downgraded Arvinas from a “buy” rating to a “hold” rating in a research note on Tuesday. ValuEngine downgraded Arvinas from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Finally, Guggenheim began coverage on Arvinas in a research note on Monday, November 25th. They issued a “buy” rating and a $50.00 price objective on the stock. One investment 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’s stock. Arvinas currently has an average rating of “Buy” and an average price target of $45.00.

The firm has a 50 day moving average price of $41.72 and a 200 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 issued its earnings results on Monday, November 4th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.67. The company had revenue of $30.05 million for the quarter, compared to the consensus estimate of $11.42 million. Arvinas had a negative return on equity of 31.57% and a negative net margin of 157.34%. On average, research analysts expect that Arvinas Inc will post -1.36 EPS for the current fiscal year.

In related news, insider Ian Taylor sold 10,000 shares of Arvinas stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $28.00, for a total transaction of $280,000.00. Following the sale, the insider now owns 55,496 shares of the company’s stock, valued at approximately $1,553,888. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Liam Ratcliffe bought 680,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were acquired at an average cost of $22.00 per share, for a total transaction of $14,960,000.00. The disclosure for this purchase can be found here. 31.77% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC grew its holdings in Arvinas by 578.7% during the 3rd quarter. Barclays PLC now owns 88,820 shares of the company’s stock valued at $1,914,000 after buying an additional 75,733 shares in the last quarter. Metropolitan Life Insurance Co NY purchased a new position in Arvinas during the 3rd quarter valued at approximately $137,000. Millennium Management LLC purchased a new position in Arvinas during the 3rd quarter valued at approximately $447,000. JPMorgan Chase & Co. grew its holdings in Arvinas by 21.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 13,358 shares of the company’s stock valued at $317,000 after buying an additional 2,387 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in Arvinas by 14,782.2% during the 2nd quarter. Bank of America Corp DE now owns 232,609 shares of the company’s stock valued at $5,116,000 after buying an additional 231,046 shares in the last quarter. Institutional investors and hedge funds 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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