Arvinas (NASDAQ:ARVN) Sees Unusually-High Trading Volume After Analyst Upgrade

Arvinas, Inc. (NASDAQ:ARVNGet Rating) shares saw an uptick in trading volume on Tuesday after Piper Sandler raised their price target on the stock from $76.00 to $81.00. Piper Sandler currently has an overweight rating on the stock. 45,811 shares changed hands during mid-day trading, a decline of 91% from the previous session’s volume of 499,870 shares.The stock last traded at $40.40 and had previously closed at $43.08.

ARVN has been the topic of several other research reports. Oppenheimer decreased their price target on Arvinas from $108.00 to $102.00 and set an “outperform” rating on the stock in a research note on Monday, August 8th. Capital One Financial began coverage on Arvinas in a research note on Tuesday, October 25th. They issued an “overweight” rating on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $80.00 price target on shares of Arvinas in a research note on Tuesday, October 18th. Barclays assumed coverage on Arvinas in a research note on Friday, September 9th. They issued an “overweight” rating and a $90.00 price objective on the stock. Finally, Credit Suisse Group boosted their price objective on Arvinas to $81.00 in a research note on Tuesday, November 15th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.19.

Institutional Investors Weigh In On Arvinas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC increased its holdings in Arvinas by 2.4% in the third quarter. ProShare Advisors LLC now owns 9,838 shares of the company’s stock valued at $437,000 after purchasing an additional 233 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Arvinas by 25.8% in the third quarter. Nisa Investment Advisors LLC now owns 1,384 shares of the company’s stock valued at $69,000 after purchasing an additional 284 shares during the last quarter. Royal Bank of Canada increased its holdings in Arvinas by 37.6% in the third quarter. Royal Bank of Canada now owns 1,230 shares of the company’s stock valued at $54,000 after purchasing an additional 336 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Arvinas by 2.8% in the first quarter. Principal Financial Group Inc. now owns 14,260 shares of the company’s stock valued at $960,000 after purchasing an additional 394 shares during the last quarter. Finally, Virtus ETF Advisers LLC increased its holdings in Arvinas by 22.7% in the second quarter. Virtus ETF Advisers LLC now owns 2,880 shares of the company’s stock valued at $121,000 after purchasing an additional 532 shares during the last quarter. Institutional investors own 91.20% of the company’s stock.

Arvinas Stock Down 2.8 %

The company has a market capitalization of $2.11 billion, a P/E ratio of -8.31 and a beta of 1.89. The firm has a fifty day simple moving average of $45.53 and a 200-day simple moving average of $45.83.

About Arvinas

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Arvinas, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its lead product candidates include Bavdegalutamide, a proteolysis targeting chimera (PROTAC) protein degrader that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer (mCRPC); ARV-471, a PROTAC protein degrader targeting the estrogen receptor protein for the treatment of patients with metastatic ER positive/HER2 negative breast cancer; and ARV-766 an investigational orally bioavailable PROTAC protein degrader for the treatment of men with mCRPC.

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