Arvinas (NASDAQ:ARVN) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen raised Arvinas from a “strong sell” to a “sell,” while broader analyst sentiment remains mixed with a consensus rating of Hold and an average target price of $15.42.
• The stock was trading around $8.03, giving Arvinas a market cap of about $518 million; it remains well below its 52-week high of $14.51 and above its 52-week low of $6.05.
• Arvinas recently reported a smaller-than-expected quarterly loss of $0.90 per share, but revenue fell sharply year over year, and executives have also been selling shares under pre-arranged trading plans.

Arvinas (NASDAQ:ARVN - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a report released on Sunday.

A number of other brokerages have also issued reports on ARVN. Stephens reissued an "overweight" rating and issued a $18.00 target price on shares of Arvinas in a research report on Wednesday, June 3rd. Barclays raised their price target on shares of Arvinas from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 13th. Weiss Ratings upgraded shares of Arvinas from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, July 13th. Zacks Research upgraded shares of Arvinas from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 26th. Finally, Citigroup increased their target price on shares of Arvinas from $21.00 to $24.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $15.42.

Arvinas Trading Down 1.1%

Shares of NASDAQ ARVN opened at $8.03 on Friday. The firm has a market cap of $518.10 million, a PE ratio of -2.42 and a beta of 1.74. Arvinas has a 1-year low of $6.05 and a 1-year high of $14.51. The company has a fifty day moving average price of $8.16 and a 200 day moving average price of $10.50.

Arvinas (NASDAQ:ARVN - Get Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.95) by $0.05. The firm had revenue of $15.60 million for the quarter, compared to the consensus estimate of $16.61 million. Arvinas had a negative return on equity of 44.38% and a negative net margin of 247.54%.The company's revenue for the quarter was down 91.7% on a year-over-year basis. During the same quarter last year, the business posted $1.14 EPS. Equities research analysts forecast that Arvinas will post -2.82 EPS for the current year.

Insider Activity

In other news, CFO Andrew Saik sold 5,696 shares of Arvinas stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $8.16, for a total value of $46,479.36. Following the completion of the transaction, the chief financial officer owned 187,432 shares of the company's stock, valued at $1,529,445.12. This trade represents a 2.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Randy Teel sold 9,657 shares of the business's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $9.94, for a total transaction of $95,990.58. Following the transaction, the chief executive officer owned 287,218 shares in the company, valued at $2,854,946.92. This represents a 3.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 41,728 shares of company stock valued at $402,649. 7.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Arvinas

A number of hedge funds and other institutional investors have recently bought and sold shares of ARVN. Assenagon Asset Management S.A. lifted its position in shares of Arvinas by 138.2% in the second quarter. Assenagon Asset Management S.A. now owns 68,456 shares of the company's stock valued at $569,000 after buying an additional 39,720 shares during the last quarter. Quantinno Capital Management LP increased its holdings in shares of Arvinas by 12.5% during the 1st quarter. Quantinno Capital Management LP now owns 74,540 shares of the company's stock worth $790,000 after acquiring an additional 8,295 shares during the last quarter. Weiss Asset Management LP bought a new stake in Arvinas in the 1st quarter valued at $385,000. Public Employees Retirement System of Ohio raised its stake in Arvinas by 876.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 97,611 shares of the company's stock valued at $1,035,000 after acquiring an additional 87,611 shares during the period. Finally, Sei Investments Co. lifted its holdings in Arvinas by 160.7% during the 1st quarter. Sei Investments Co. now owns 78,587 shares of the company's stock valued at $833,000 after purchasing an additional 48,444 shares during the last quarter. Institutional investors own 95.19% of the company's stock.

Arvinas Company Profile

Arvinas, Inc NASDAQ: ARVN is a biopharmaceutical company focused on the development of therapies based on targeted protein degradation. Utilizing its proprietary proteolysis-targeting chimera (PROTAC®) platform, Arvinas aims to selectively eliminate disease-causing proteins rather than merely inhibit their activity. This novel approach has the potential to address a range of diseases, including oncology, neurodegeneration and inflammation, by harnessing the body's natural protein-recycling systems.

The company's most advanced clinical candidates address hormone-driven cancers.

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