Analysts Set Arvinas, Inc. (NASDAQ:ARVN) Target Price at $20.92

Shares of Arvinas, Inc. (NASDAQ:ARVN - Get Free Report) have been assigned an average rating of "Moderate Buy" from the twenty research firms that are currently covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $20.92.

ARVN has been the subject of several recent research reports. Bank of America lowered their target price on Arvinas from $54.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Wedbush lowered shares of Arvinas from an "outperform" rating to a "neutral" rating and lowered their price target for the stock from $57.00 to $12.00 in a research report on Wednesday, March 12th. Stifel Nicolaus lowered their price target on shares of Arvinas from $63.00 to $51.00 and set a "buy" rating for the company in a research report on Wednesday, February 12th. HC Wainwright lowered their price target on shares of Arvinas from $81.00 to $24.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Truist Financial reiterated a "hold" rating and issued a $11.00 target price (down previously from $21.00) on shares of Arvinas in a research report on Monday, May 5th.

Arvinas Stock Performance

Shares of NASDAQ:ARVN traded up $0.18 during mid-day trading on Monday, hitting $6.69. 1,891,353 shares of the company traded hands, compared to its average volume of 1,340,911. The firm has a market cap of $488.31 million, a P/E ratio of -2.42 and a beta of 2.21. The firm's 50 day simple moving average is $7.39 and its 200 day simple moving average is $15.03. Arvinas has a 52-week low of $5.90 and a 52-week high of $36.20.

Arvinas (NASDAQ:ARVN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.93) by $2.07. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. The firm's revenue for the quarter was up 646.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.97) EPS. Equities research analysts expect that Arvinas will post -3.81 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Noah Berkowitz sold 8,658 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $8.59, for a total transaction of $74,372.22. Following the sale, the insider now owns 110,023 shares of the company's stock, valued at approximately $945,097.57. This represents a 7.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.73% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Acadian Asset Management LLC bought a new stake in shares of Arvinas in the 1st quarter worth approximately $1,123,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Arvinas by 108.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 902,925 shares of the company's stock valued at $6,339,000 after acquiring an additional 469,394 shares in the last quarter. Woodline Partners LP boosted its holdings in Arvinas by 0.5% in the first quarter. Woodline Partners LP now owns 695,945 shares of the company's stock valued at $4,886,000 after acquiring an additional 3,212 shares in the last quarter. Philosophy Capital Management LLC bought a new stake in Arvinas in the first quarter valued at $6,992,000. Finally, Millennium Management LLC boosted its holdings in Arvinas by 208.4% in the first quarter. Millennium Management LLC now owns 1,310,326 shares of the company's stock valued at $9,198,000 after acquiring an additional 885,483 shares in the last quarter. 95.19% of the stock is owned by hedge funds and other institutional investors.

About Arvinas

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.