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

Arvinas, Inc. (NASDAQ:ARVN - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twenty research firms that are currently covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $20.92.

Several equities research analysts recently issued reports on the stock. HC Wainwright reduced their target price on shares of Arvinas from $81.00 to $24.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Wells Fargo & Company reduced 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. Morgan Stanley lowered their target price on shares of Arvinas from $12.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. Barclays dropped their target price on shares of Arvinas from $32.00 to $16.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Finally, Piper Sandler reissued an "overweight" rating and set a $14.00 price target (down from $24.00) on shares of Arvinas in a report on Friday, May 2nd.

Insider Activity at Arvinas

In other news, insider Noah Berkowitz sold 8,658 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $8.59, for a total value of $74,372.22. Following the sale, the insider now directly owns 110,023 shares in the company, valued at $945,097.57. The trade was a 7.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.73% of the stock is owned by insiders.

Institutional Trading of Arvinas

Several hedge funds have recently made changes to their positions in the business. GF Fund Management CO. LTD. bought a new stake in Arvinas during the fourth quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Arvinas by 965.4% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,656 shares of the company's stock valued at $33,000 after purchasing an additional 4,219 shares during the last quarter. CWM LLC boosted its holdings in shares of Arvinas by 2,317.5% in the 1st quarter. CWM LLC now owns 7,615 shares of the company's stock worth $53,000 after purchasing an additional 7,300 shares during the period. KBC Group NV increased its position in shares of Arvinas by 77.0% during the 4th quarter. KBC Group NV now owns 2,885 shares of the company's stock valued at $55,000 after purchasing an additional 1,255 shares during the last quarter. Finally, Aigen Investment Management LP bought a new position in shares of Arvinas during the 1st quarter valued at approximately $77,000. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

Arvinas Price Performance

Shares of NASDAQ:ARVN traded down $0.35 during midday trading on Monday, hitting $7.16. The company had a trading volume of 246,178 shares, compared to its average volume of 1,357,489. Arvinas has a 12-month low of $5.90 and a 12-month high of $34.34. The company has a fifty day moving average of $7.34 and a two-hundred day moving average of $14.84. The company has a market cap of $522.25 million, a price-to-earnings ratio of -2.58 and a beta of 2.21.

Arvinas (NASDAQ:ARVN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.14 EPS for the quarter, topping analysts' consensus estimates of ($0.93) by $2.07. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. During the same period in the previous year, the business earned ($0.97) earnings per share. The business's revenue for the quarter was up 646.2% on a year-over-year basis. Research analysts expect that Arvinas will post -3.81 earnings per share for the current fiscal year.

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.