Arvinas (NASDAQ:ARVN) Downgraded to "Strong Sell" Rating by Zacks Research

Arvinas (NASDAQ:ARVN - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Monday,Zacks.com reports.

A number of other research analysts also recently commented on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Arvinas in a report on Friday, April 10th. BTIG Research increased their price target on shares of Arvinas from $14.00 to $16.00 and gave the company a "buy" rating in a report on Thursday, March 19th. Truist Financial set a $10.00 price target on shares of Arvinas in a report on Wednesday, March 18th. Citigroup increased their price target on shares of Arvinas from $18.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, March 19th. Finally, Wall Street Zen downgraded shares of Arvinas from a "hold" rating to a "sell" rating in a report on Monday, March 2nd. Ten analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $13.88.

Arvinas Trading Down 0.7%

Shares of NASDAQ:ARVN opened at $10.22 on Monday. Arvinas has a 12 month low of $5.90 and a 12 month high of $14.51. The company has a 50-day moving average price of $11.63 and a 200 day moving average price of $11.66. The company has a market cap of $653.67 million, a price-to-earnings ratio of -7.98 and a beta of 1.97.

Arvinas (NASDAQ:ARVN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The company reported ($1.10) EPS for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.55). Arvinas had a negative net margin of 30.77% and a negative return on equity of 14.25%. The business had revenue of $9.50 million during the quarter, compared to the consensus estimate of $37.26 million. During the same period in the previous year, the business posted ($0.63) EPS. The firm's revenue was down 84.0% on a year-over-year basis. As a group, equities analysts forecast that Arvinas will post -3.26 EPS for the current year.

Insider Buying and Selling

In related news, CFO Andrew Saik sold 5,134 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $11.89, for a total value of $61,043.26. Following the sale, the chief financial officer directly owned 159,267 shares of the company's stock, valued at $1,893,684.63. This represents a 3.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Briggs Morrison acquired 20,000 shares of Arvinas stock in a transaction that occurred on Friday, March 6th. The stock was purchased at an average cost of $13.40 per share, for a total transaction of $268,000.00. Following the completion of the transaction, the director directly owned 96,021 shares in the company, valued at $1,286,681.40. This trade represents a 26.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 63,864 shares of company stock worth $802,443 over the last three months. 4.73% of the stock is currently owned by company insiders.

Institutional Trading of Arvinas

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its position in Arvinas by 491.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company's stock worth $43,000 after purchasing an additional 4,835 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Arvinas by 109.4% during the second quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company's stock worth $49,000 after acquiring an additional 3,500 shares during the period. State of Wyoming purchased a new position in shares of Arvinas during the third quarter worth approximately $68,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Arvinas during the third quarter worth approximately $92,000. Finally, Jain Global LLC purchased a new position in shares of Arvinas during the third quarter worth approximately $95,000. 95.19% of the stock is owned by hedge funds and other institutional investors.

About Arvinas

Arvinas, Inc NASDAQ: ARVN is a biopharmaceutical company focused on the development of therapies based on targeted protein degradation. Utilizing its proprietary proteolysis-targeting chimera (PROTAC®) platform, Arvinas aims to selectively eliminate disease-causing proteins rather than merely inhibit their activity. This novel approach has the potential to address a range of diseases, including oncology, neurodegeneration and inflammation, by harnessing the body's natural protein-recycling systems.

The company's most advanced clinical candidates address hormone-driven cancers.

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