Shares of Arvinas Inc (NASDAQ:ARVN) hit a new 52-week high on Tuesday . The stock traded as high as $48.36 and last traded at $48.36, with a volume of 4329 shares trading hands. The stock had previously closed at $46.74.
ARVN has been the subject of several recent research reports. Wedbush initiated coverage on Arvinas in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $38.00 price objective for the company. HC Wainwright initiated coverage on Arvinas in a research report on Thursday, December 19th. They issued a “buy” rating and a $50.00 price objective for the company. Cantor Fitzgerald boosted their price objective on Arvinas from $42.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Roth Capital initiated coverage on Arvinas in a research report on Thursday, November 14th. They issued a “buy” rating and a $35.00 price objective for the company. Finally, Piper Jaffray Companies boosted their price objective on Arvinas from $35.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. Arvinas currently has an average rating of “Buy” and a consensus target price of $45.00.
The company has a debt-to-equity ratio of 0.03, a quick ratio of 6.79 and a current ratio of 6.79. The business has a fifty day moving average of $41.72 and a 200 day moving average of $28.41.
Arvinas (NASDAQ:ARVN) last announced its earnings results on Monday, November 4th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.67. The company had revenue of $30.05 million during 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 year.
In related news, CFO Sean A. Cassidy sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $32.00, for a total transaction of $320,000.00. Following the completion of the transaction, the chief financial officer now owns 159,115 shares in the company, valued at $5,091,680. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 price of $22.00 per share, with a total value of $14,960,000.00. The disclosure for this purchase can be found here. 31.77% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC raised its holdings in Arvinas by 578.7% in the third quarter. Barclays PLC now owns 88,820 shares of the company’s stock worth $1,914,000 after purchasing an additional 75,733 shares in the last quarter. Metropolitan Life Insurance Co NY bought a new position in Arvinas in the third quarter worth $137,000. Millennium Management LLC bought a new position in Arvinas in the third quarter worth $447,000. JPMorgan Chase & Co. raised its holdings in Arvinas by 21.8% in the second quarter. JPMorgan Chase & Co. now owns 13,358 shares of the company’s stock worth $317,000 after purchasing an additional 2,387 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Arvinas by 14,782.2% in the second quarter. Bank of America Corp DE now owns 232,609 shares of the company’s stock worth $5,116,000 after purchasing an additional 231,046 shares in the last quarter. Institutional investors and hedge funds own 47.79% of the company’s stock.
About Arvinas (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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