Truist Financial Reiterates "Hold" Rating for Arvinas (NASDAQ:ARVN)

Arvinas (NASDAQ:ARVN - Get Free Report)'s stock had its "hold" rating reiterated by research analysts at Truist Financial in a report released on Monday, Marketbeat Ratings reports. They currently have a $11.00 price objective on the stock, down from their previous price objective of $21.00. Truist Financial's target price indicates a potential upside of 61.72% from the company's previous close.

ARVN has been the subject of a number of other research reports. Bank of America reduced their price objective on Arvinas from $54.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. HC Wainwright decreased their price objective on Arvinas from $81.00 to $24.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Jefferies Financial Group reissued a "hold" rating and set a $10.00 target price (down previously from $52.00) on shares of Arvinas in a report on Friday, May 2nd. Piper Sandler restated an "overweight" rating and issued a $14.00 price target (down from $24.00) on shares of Arvinas in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group dropped their price objective on shares of Arvinas from $12.00 to $8.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Arvinas has a consensus rating of "Moderate Buy" and a consensus price target of $20.97.

Arvinas Trading Up 2.0 %

Shares of NASDAQ ARVN traded up $0.13 during mid-day trading on Monday, reaching $6.80. 2,466,466 shares of the company's stock were exchanged, compared to its average volume of 1,283,179. Arvinas has a twelve month low of $5.94 and a twelve month high of $37.38. The firm has a market capitalization of $496.48 million, a price-to-earnings ratio of -2.46 and a beta of 2.21. The business has a fifty day simple moving average of $8.85 and a 200 day simple moving average of $16.96.

Arvinas (NASDAQ:ARVN - Get Free Report) last posted its earnings results 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 return on equity of 33.75% and a negative net margin of 75.51%. Arvinas's revenue was up 646.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.97) EPS. Equities research analysts predict that Arvinas will post -3.81 earnings per share for the current fiscal year.

Insider Transactions at Arvinas

In other news, insider Noah Berkowitz sold 8,658 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $8.59, for a total transaction of $74,372.22. Following the completion of the sale, the insider now owns 110,023 shares in the company, valued at $945,097.57. The trade was a 7.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John G. Houston sold 31,338 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.72, for a total value of $523,971.36. Following the transaction, the chief executive officer now directly owns 1,157,480 shares in the company, valued at $19,353,065.60. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,230 shares of company stock worth $769,402. Company insiders own 5.23% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ARVN. GF Fund Management CO. LTD. bought a new stake in shares of Arvinas during the fourth quarter worth about $28,000. KBC Group NV increased its holdings in Arvinas by 77.0% during the 4th quarter. KBC Group NV now owns 2,885 shares of the company's stock worth $55,000 after purchasing an additional 1,255 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Arvinas by 11,283.8% in the first quarter. GAMMA Investing LLC now owns 4,212 shares of the company's stock worth $300,000 after purchasing an additional 4,175 shares during the last quarter. CWM LLC lifted its holdings in shares of Arvinas by 2,317.5% in the first quarter. CWM LLC now owns 7,615 shares of the company's stock valued at $53,000 after purchasing an additional 7,300 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Arvinas during the fourth quarter valued at approximately $171,000. Institutional investors and hedge funds own 95.19% of the company's stock.

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.