Arvinas (NASDAQ:ARVN) Downgraded to "Hold" Rating by TD Cowen

TD Cowen cut shares of Arvinas (NASDAQ:ARVN - Free Report) from a buy rating to a hold rating in a report released on Friday, Marketbeat.com reports.

A number of other brokerages have also recently weighed in on ARVN. Guggenheim dropped their target price on shares of Arvinas from $57.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, March 13th. Citigroup cut their target price on Arvinas from $28.00 to $19.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Morgan Stanley decreased their price objective on Arvinas from $48.00 to $12.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. HC Wainwright reissued a "buy" rating and issued a $81.00 price target on shares of Arvinas in a research note on Monday, April 7th. Finally, BMO Capital Markets set a $20.00 target price on Arvinas and gave the stock an "outperform" rating in a report on Wednesday, March 12th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $24.09.

Arvinas Stock Down 1.2 %

NASDAQ:ARVN traded down $0.09 during trading hours on Friday, reaching $7.63. 3,536,211 shares of the stock were exchanged, compared to its average volume of 1,260,172. Arvinas has a twelve month low of $5.94 and a twelve month high of $37.38. The business has a 50-day moving average of $9.47 and a two-hundred day moving average of $17.23. The company has a market capitalization of $556.92 million, a price-to-earnings ratio of -2.75 and a beta of 2.21.

Arvinas (NASDAQ:ARVN - Get Free Report) last released its earnings results 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%. During the same quarter in the previous year, the business posted ($0.97) EPS. Arvinas's revenue was up 646.2% on a year-over-year basis. On average, research analysts forecast that Arvinas will post -3.81 EPS for the current fiscal year.

Insider Buying and Selling

In other Arvinas news, insider Noah Berkowitz sold 8,658 shares of the company's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $8.59, for a total value of $74,372.22. Following the completion of the sale, the insider now directly owns 110,023 shares in the company, valued at approximately $945,097.57. This represents a 7.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John G. Houston sold 31,338 shares of the company's stock in a transaction 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 approximately $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 ninety days, insiders sold 50,230 shares of company stock worth $769,402. 5.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. purchased a new position in shares of Arvinas during the 4th quarter worth $28,000. KBC Group NV raised its stake in Arvinas by 77.0% in the fourth quarter. KBC Group NV now owns 2,885 shares of the company's stock valued at $55,000 after buying an additional 1,255 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Arvinas by 11,283.8% in the 1st quarter. GAMMA Investing LLC now owns 4,212 shares of the company's stock valued at $300,000 after buying an additional 4,175 shares during the last quarter. CWM LLC increased its position in Arvinas by 2,317.5% during the first quarter. CWM LLC now owns 7,615 shares of the company's stock worth $53,000 after buying an additional 7,300 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in Arvinas in the 4th quarter valued at about $171,000. Hedge funds and other institutional investors own 95.19% of the company's stock.

Arvinas Company Profile

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.