Arvinas (NASDAQ:ARVN) Stock Price Down 4.7% - Time to Sell?

Arvinas, Inc. (NASDAQ:ARVN - Get Free Report)'s stock price was down 4.7% on Friday . The stock traded as low as $7.10 and last traded at $7.15. Approximately 246,178 shares changed hands during trading, a decline of 82% from the average daily volume of 1,357,534 shares. The stock had previously closed at $7.50.

Analysts Set New Price Targets

Several equities analysts have weighed in on ARVN shares. BMO Capital Markets lowered their price target on shares of Arvinas from $20.00 to $10.00 and set an "outperform" rating on the stock in a report on Monday, May 5th. Stifel Nicolaus reduced their price objective on shares of Arvinas from $63.00 to $51.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th. UBS Group reduced their price objective on shares of Arvinas from $74.00 to $21.00 and set a "buy" rating on the stock in a research report on Thursday, May 15th. Oppenheimer cut shares of Arvinas from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 11th. Finally, Wells Fargo & Company reduced their price objective on shares of Arvinas from $26.00 to $19.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $20.92.

Arvinas Stock Down 3.6%

The firm's 50 day simple moving average is $7.32 and its 200 day simple moving average is $14.56. The company has a market capitalization of $527.72 million, a PE ratio of -2.61 and a beta of 2.21.

Arvinas (NASDAQ:ARVN - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.93) by $2.07. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. Arvinas's revenue was up 646.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.97) earnings per share. As a group, sell-side analysts predict that Arvinas, Inc. will post -3.81 EPS for the current fiscal year.

Insider Activity

In other news, insider Noah Berkowitz sold 8,658 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were 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 directly owns 110,023 shares of the company's stock, valued at approximately $945,097.57. The trade was a 7.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.73% of the company's stock.

Institutional Trading of Arvinas

Hedge funds have recently added to or reduced their stakes in the business. Affinity Asset Advisors LLC lifted its stake in Arvinas by 180.0% in the fourth quarter. Affinity Asset Advisors LLC now owns 630,000 shares of the company's stock worth $12,077,000 after acquiring an additional 405,000 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new stake in Arvinas in the fourth quarter worth about $1,534,000. Kennedy Capital Management LLC lifted its stake in Arvinas by 42.0% in the fourth quarter. Kennedy Capital Management LLC now owns 208,992 shares of the company's stock worth $4,006,000 after acquiring an additional 61,802 shares during the period. BIT Capital GmbH lifted its stake in Arvinas by 291.7% in the fourth quarter. BIT Capital GmbH now owns 263,527 shares of the company's stock worth $5,052,000 after acquiring an additional 196,246 shares during the period. Finally, Northern Trust Corp raised its holdings in Arvinas by 7.2% in the fourth quarter. Northern Trust Corp now owns 631,131 shares of the company's stock worth $12,099,000 after purchasing an additional 42,638 shares in the last quarter. 95.19% of the stock is owned by hedge funds and other institutional investors.

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.