Arvinas (NASDAQ:ARVN - Free Report) had its target price lowered by BMO Capital Markets from $20.00 to $10.00 in a research report report published on Monday morning, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the stock.
A number of other equities analysts have also weighed in on the company. TD Cowen lowered Arvinas from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. The Goldman Sachs Group dropped their target price on Arvinas from $12.00 to $8.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Oppenheimer downgraded shares of Arvinas from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 11th. Barclays dropped their price target on shares of Arvinas from $32.00 to $16.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Finally, Guggenheim reduced their price objective on Arvinas from $32.00 to $16.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $20.97.
Check Out Our Latest Analysis on ARVN
Arvinas Stock Down 4.5 %
Shares of NASDAQ:ARVN traded down $0.32 during midday trading on Monday, reaching $6.64. The company's stock had a trading volume of 2,369,272 shares, compared to its average volume of 1,276,047. Arvinas has a 12-month low of $5.94 and a 12-month high of $37.38. The firm has a market capitalization of $484.30 million, a P/E ratio of -2.40 and a beta of 2.21. The firm has a 50 day moving average of $9.04 and a 200-day moving average of $17.09.
Arvinas (NASDAQ:ARVN - Get Free Report) last posted its quarterly 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 return on equity of 33.75% and a negative net margin of 75.51%. During the same period last year, the firm posted ($0.97) earnings per share. The company's revenue was up 646.2% compared to the same quarter last year. On average, research analysts predict that Arvinas will post -3.81 EPS for the current year.
Insider Activity at Arvinas
In other news, CEO John G. Houston sold 31,338 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.72, for a total transaction of $523,971.36. Following the transaction, the chief executive officer now owns 1,157,480 shares of the company's stock, valued at approximately $19,353,065.60. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Noah Berkowitz sold 8,658 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $8.59, for a total value of $74,372.22. Following the sale, the insider now directly owns 110,023 shares of the company's stock, valued at $945,097.57. This represents a 7.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,230 shares of company stock worth $769,402. Company insiders own 5.23% of the company's stock.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Corton Capital Inc. bought a new stake in shares of Arvinas during the first quarter valued at approximately $124,000. Victory Capital Management Inc. lifted its holdings in shares of Arvinas by 60.2% in the 1st quarter. Victory Capital Management Inc. now owns 72,810 shares of the company's stock worth $511,000 after buying an additional 27,360 shares during the period. CWM LLC grew its position in shares of Arvinas by 2,317.5% during the 1st quarter. CWM LLC now owns 7,615 shares of the company's stock worth $53,000 after buying an additional 7,300 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of Arvinas by 19.0% during the first quarter. New York State Common Retirement Fund now owns 24,313 shares of the company's stock valued at $171,000 after buying an additional 3,888 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Arvinas in the first quarter valued at about $80,000. 95.19% of the stock is currently owned by institutional investors.
About Arvinas
(
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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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