Arvinas (NASDAQ:ARVN - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported ($0.84) EPS for the quarter, topping analysts' consensus estimates of ($0.87) by $0.03, Zacks reports. The business had revenue of $22.40 million for the quarter, compared to analyst estimates of $34.42 million. Arvinas had a negative return on equity of 12.05% and a negative net margin of 19.47%. Arvinas's quarterly revenue was down 70.7% compared to the same quarter last year. During the same period last year, the company posted ($0.49) earnings per share.
Arvinas Stock Performance
Shares of NASDAQ ARVN traded down $0.03 during midday trading on Friday, hitting $6.21. 616,785 shares of the company traded hands, compared to its average volume of 2,184,932. Arvinas has a 12-month low of $5.90 and a 12-month high of $29.61. The firm has a market cap of $453.56 million, a P/E ratio of -6.15 and a beta of 2.22. The stock has a 50-day moving average price of $7.54 and a 200 day moving average price of $10.05.
Insider Buying and Selling
In other news, CFO Andrew Saik sold 5,700 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $7.61, for a total value of $43,377.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.73% of the stock is owned by company insiders.
Hedge Funds Weigh In On Arvinas
A number of institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Arvinas by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,636 shares of the company's stock worth $271,000 after acquiring an additional 2,122 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Arvinas during the first quarter valued at approximately $301,000. AQR Capital Management LLC bought a new position in Arvinas during the first quarter valued at approximately $727,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Arvinas by 108.3% in the first 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 last quarter. Finally, Millennium Management LLC increased its position in Arvinas by 208.4% during the first quarter. Millennium Management LLC now owns 1,310,326 shares of the company's stock valued at $9,198,000 after acquiring an additional 885,483 shares during the last quarter. Institutional investors own 95.19% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have commented on ARVN shares. BMO Capital Markets lowered their price objective on shares of Arvinas from $20.00 to $10.00 and set an "outperform" rating on the stock in a research report on Monday, May 5th. Citigroup decreased their price target on shares of Arvinas from $10.00 to $9.50 and set a "neutral" rating on the stock in a report on Monday, May 5th. Guggenheim dropped their target price on shares of Arvinas from $16.00 to $15.00 and set a "buy" rating for the company in a research report on Thursday. TD Cowen lowered shares of Arvinas from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Finally, Morgan Stanley cut their price objective on shares of Arvinas from $12.00 to $11.00 and set an "equal weight" rating for the company in a research note on Friday, May 9th. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Arvinas presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.76.
View Our Latest Analysis on ARVN
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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