Arvinas (NASDAQ:ARVN - Free Report) had its price target cut by Citigroup from $10.00 to $9.50 in a report released on Monday,Benzinga reports. They currently have a neutral rating on the stock.
A number of other brokerages also recently issued reports on ARVN. Wells Fargo & Company cut their price target on Arvinas from $26.00 to $19.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Guggenheim dropped their price target on Arvinas from $32.00 to $16.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Morgan Stanley reduced their price objective on Arvinas from $48.00 to $12.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Arvinas in a research report on Friday, February 7th. Finally, HC Wainwright decreased their price objective on shares of Arvinas from $81.00 to $24.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Arvinas currently has an average rating of "Moderate Buy" and an average price target of $20.97.
Get Our Latest Stock Report on ARVN
Arvinas Price Performance
Shares of Arvinas stock traded up $0.19 during trading on Monday, hitting $6.86. The stock had a trading volume of 1,755,485 shares, compared to its average volume of 1,278,513. The stock has a market cap of $500.57 million, a PE ratio of -2.49 and a beta of 2.21. Arvinas has a 12 month low of $5.94 and a 12 month high of $37.38. The firm's fifty day simple moving average is $9.04 and its 200-day simple moving average is $17.09.
Arvinas (NASDAQ:ARVN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.14 EPS for the quarter, topping 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%. During the same period in the previous year, the firm earned ($0.97) EPS. The company's revenue for the quarter was up 646.2% on a year-over-year basis. Analysts expect that Arvinas will post -3.81 earnings per share for the current fiscal year.
Insider Transactions at Arvinas
In other Arvinas news, insider Ian Taylor sold 9,020 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.71, for a total value of $150,724.20. Following the completion of the sale, the insider now directly owns 159,121 shares in the company, valued at $2,658,911.91. This represents a 5.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Noah Berkowitz sold 8,658 shares of the business's stock in a transaction dated Tuesday, March 18th. The stock was 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 owns 110,023 shares in the company, valued at approximately $945,097.57. This trade 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 sold 50,230 shares of company stock valued at $769,402. Insiders own 5.23% of the company's stock.
Hedge Funds Weigh In On Arvinas
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Monaco Asset Management SAM increased its stake in shares of Arvinas by 1,161.8% during the 1st quarter. Monaco Asset Management SAM now owns 315,459 shares of the company's stock worth $2,215,000 after purchasing an additional 290,459 shares during the last quarter. XTX Topco Ltd increased its position in Arvinas by 194.2% during the first quarter. XTX Topco Ltd now owns 78,257 shares of the company's stock worth $549,000 after acquiring an additional 51,658 shares during the period. Federated Hermes Inc. raised its stake in Arvinas by 1,965.0% during the 1st quarter. Federated Hermes Inc. now owns 980,674 shares of the company's stock valued at $6,884,000 after purchasing an additional 933,183 shares during the last quarter. Corton Capital Inc. bought a new stake in Arvinas in the 1st quarter valued at $124,000. Finally, Victory Capital Management Inc. boosted its holdings in Arvinas by 60.2% in the 1st quarter. Victory Capital Management Inc. now owns 72,810 shares of the company's stock valued at $511,000 after purchasing an additional 27,360 shares during the period. Institutional investors and hedge funds own 95.19% of the company's stock.
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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