Arvinas (NASDAQ:ARVN) Shares Gap Down - Time to Sell?

Shares of Arvinas, Inc. (NASDAQ:ARVN - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $7.20, but opened at $6.74. Arvinas shares last traded at $7.06, with a volume of 680,566 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ARVN. Leerink Partners restated a "market perform" rating and issued a $9.00 target price (down from $10.00) on shares of Arvinas in a research note on Monday. Cantor Fitzgerald restated an "overweight" rating on shares of Arvinas in a research note on Friday, February 7th. Jefferies Financial Group restated a "hold" rating and issued a $10.00 target price (down from $52.00) on shares of Arvinas in a research note on Friday, May 2nd. TD Cowen downgraded shares of Arvinas from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group lowered their target price 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. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $20.29.

Arvinas Price Performance

The company's fifty day moving average is $7.27 and its 200-day moving average is $14.35. The stock has a market cap of $507.29 million, a PE ratio of -2.51 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, topping the consensus estimate of ($0.93) by $2.07. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same quarter in the previous year, the firm earned ($0.97) earnings per share. The company's quarterly revenue was up 646.2% on a year-over-year basis. Analysts expect that Arvinas, Inc. will post -3.81 EPS for the current year.

Insider Buying and Selling

In other Arvinas news, insider Noah Berkowitz sold 8,658 shares of Arvinas stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $8.59, for a total value of $74,372.22. Following the completion of the transaction, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.73% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. purchased a new position in Arvinas in the fourth quarter valued at $28,000. KBC Group NV increased its holdings 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 increased its holdings in Arvinas by 11,283.8% in the first 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 in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Arvinas by 965.4% in the first quarter. Caitong International Asset Management Co. Ltd now owns 4,656 shares of the company's stock valued at $33,000 after buying an additional 4,219 shares in the last quarter. Finally, CWM LLC increased its holdings in 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 buying an additional 7,300 shares in the last quarter. 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.