Arvinas Inc (NASDAQ: ARVN) stock jumped 0.58% on Friday to $20.92 against a previous-day closing price of $20.80. With 0.54 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.48 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $21.49 whereas the lowest price it dropped to was $20.60. The 52-week range on ARVN shows that it touched its highest point at $56.04 and its lowest point at $13.57 during that stretch. It currently has a 1-year price target of $57.40. Beta for the stock currently stands at 1.91.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ARVN was up-trending over the past week, with a rise of 39.56%, but this was up by 36.91% over a month. Three-month performance dropped to -21.53% while six-month performance fell -5.77%. The stock lost -61.52% in the past year, while it has lost -38.85% so far this year. A look at the trailing 12-month EPS for ARVN yields -5.53 with Next year EPS estimates of -7.23. For the next quarter, that number is -1.35. This implies an EPS growth rate of -0.98% for this year and -34.91% for next year.
Float and Shares Shorts:
At present, 53.20 million ARVN shares are outstanding with a float of 47.31 million shares on hand for trading. On Oct 30, 2023, short shares totaled 2.61 million, which was 4.75% higher than short shares on Sep 28, 2023. In addition to Dr. John G. Houston Ph.D. as the firm’s Chairperson, CEO & President, Mr. Sean A. Cassidy CPA, M.B.A. serves as its CFO, Principal Financial Officer & Treasurer.
Through their ownership of 94.29% of ARVN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 49.18% of ARVN, in contrast to 39.53% held by mutual funds. Shares owned by individuals account for 35.82%. As the largest shareholder in ARVN with 10.22% of the stake, EcoR1 Capital, LLC holds 5,467,063 shares worth 5,467,063. A second-largest stockholder of ARVN, The Vanguard Group, Inc., holds 4,469,245 shares, controlling over 8.36% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in ARVN, holding 3,810,841 shares or 7.13% stake. With a 3.96% stake in ARVN, the BB Biotech AG is the largest stakeholder. A total of 2,120,000 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.66% of ARVN stock, is the second-largest Mutual Fund holder. It holds 1,420,431 shares valued at 22.9 million. T Rowe Price New Horizons Fund holds 2.33% of the stake in ARVN, owning 1,246,330 shares worth 20.09 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ARVN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ARVN analysts setting a high price target of $95.00 and a low target of $20.00, the average target price over the next 12 months is $57.40. Based on these targets, ARVN could surge 354.11% to reach the target high and fall by -4.4% to reach the target low. Reaching the average price target will result in a growth of 174.38% from current levels.
Summary of Insider Activity:
Insiders traded ARVN stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 17 while that of sell transactions has risen to 4 over the past year. The total number of shares bought during that period was 189,556 while 9,998 shares were sold.