Traders Purchase Large Volume of Call Options on Arvinas (NASDAQ:ARVN)

Arvinas, Inc. (NASDAQ:ARVN) saw unusually large options trading activity on Friday. Stock traders bought 30,996 call options on the company. This represents an increase of 617% compared to the average daily volume of 4,324 call options.

Wall Street Analyst Weigh In

ARVN has been the subject of a number of recent analyst reports. Bank of America lowered their target price on shares of Arvinas from $54.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. HC Wainwright set a $24.00 price objective on shares of Arvinas in a research note on Monday, June 2nd. Wells Fargo & Company decreased their price objective on shares of Arvinas from $26.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, May 2nd. Barclays decreased their price objective on shares of Arvinas from $32.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, May 2nd. Finally, UBS Group decreased their price objective on shares of Arvinas from $74.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, May 15th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.29.

Institutional Investors Weigh In On Arvinas

A number of large investors have recently modified their holdings of ARVN. Rhumbline Advisers grew its holdings in shares of Arvinas by 0.9% during the fourth quarter. Rhumbline Advisers now owns 87,877 shares of the company’s stock worth $1,685,000 after buying an additional 754 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Arvinas by 16.9% during the fourth quarter. Handelsbanken Fonder AB now owns 22,825 shares of the company’s stock worth $438,000 after buying an additional 3,300 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Arvinas by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 536,112 shares of the company’s stock worth $10,277,000 after buying an additional 5,443 shares in the last quarter. M&T Bank Corp grew its holdings in shares of Arvinas by 16.7% during the fourth quarter. M&T Bank Corp now owns 31,673 shares of the company’s stock worth $608,000 after buying an additional 4,536 shares in the last quarter. Finally, Monaco Asset Management SAM purchased a new stake in shares of Arvinas during the fourth quarter worth $479,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Stock Performance

NASDAQ:ARVN opened at $7.44 on Friday. The company has a fifty day moving average of $7.46 and a two-hundred day moving average of $12.84. The stock has a market capitalization of $543.05 million, a PE ratio of -11.27 and a beta of 2.19. Arvinas has a fifty-two week low of $5.90 and a fifty-two week high of $34.11.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.93) by $2.07. Arvinas had a negative net margin of 10.92% and a negative return on equity of 7.74%. During the same quarter in the previous year, the firm earned ($0.97) earnings per share. Arvinas’s revenue for the quarter was up 646.2% on a year-over-year basis. Research analysts forecast that Arvinas will post -3.81 earnings per share for the current year.

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.