Arvinas (NASDAQ:ARVN - Get Free Report) issued its quarterly earnings data on Wednesday. The company reported ($0.84) EPS for the quarter, topping analysts' consensus estimates of ($0.87) by $0.03, Zacks reports. Arvinas had a negative net margin of 19.47% and a negative return on equity of 12.01%. The business had revenue of $22.40 million during the quarter, compared to analysts' expectations of $34.42 million. During the same period last year, the company posted ($0.49) EPS. The business's revenue was down 70.7% on a year-over-year basis.
Arvinas Stock Up 0.2%
Shares of ARVN stock traded up $0.02 on Tuesday, hitting $6.61. The stock had a trading volume of 171,757 shares, compared to its average volume of 2,182,779. The business has a 50 day moving average price of $7.51 and a 200 day moving average price of $9.77. The company has a market cap of $485.01 million, a PE ratio of -6.52 and a beta of 2.22. Arvinas has a one year low of $5.90 and a one year high of $29.61.
Analyst Ratings Changes
A number of equities analysts have commented on ARVN shares. BMO Capital Markets dropped their price objective on shares of Arvinas from $20.00 to $10.00 and set an "outperform" rating for the company in a research note on Monday, May 5th. Guggenheim dropped their price target on shares of Arvinas from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Piper Sandler reaffirmed an "overweight" rating and set a $14.00 price target (down from $24.00) on shares of Arvinas in a research note on Friday, May 2nd. The Goldman Sachs Group dropped their price target 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. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $10.00 price target (down from $52.00) on shares of Arvinas in a research note on Friday, May 2nd. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $19.76.
Read Our Latest Report on ARVN
Insider Buying and Selling at Arvinas
In other news, CFO Andrew Saik sold 5,700 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $7.61, for a total value of $43,377.00. Following the completion of the sale, the chief financial officer owned 164,401 shares of the company's stock, valued at approximately $1,251,091.61. This represents a 3.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.73% of the company's stock.
Institutional Investors Weigh In On Arvinas
Several hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Arvinas by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,636 shares of the company's stock worth $271,000 after purchasing an additional 2,122 shares during the period. Creative Planning lifted its position in shares of Arvinas by 107.7% in the 2nd quarter. Creative Planning now owns 30,773 shares of the company's stock worth $226,000 after purchasing an additional 15,955 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Arvinas in the 1st quarter worth approximately $301,000. AQR Capital Management LLC purchased a new stake in shares of Arvinas in the 1st quarter worth approximately $727,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Arvinas by 108.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 902,925 shares of the company's stock worth $6,339,000 after purchasing an additional 469,394 shares during the period. Hedge funds and other institutional investors own 95.19% of the company's stock.
About Arvinas
(
Get Free Report)
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.
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