Jefferies Financial Group Reiterates Hold Rating for Arvinas (NASDAQ:ARVN)

Arvinas (NASDAQ:ARVN - Get Free Report)'s stock had its "hold" rating reiterated by investment analysts at Jefferies Financial Group in a research report issued to clients and investors on Friday, MarketBeat reports. They presently have a $10.00 price target on the stock, down from their prior price target of $52.00. Jefferies Financial Group's target price would indicate a potential upside of 49.37% from the stock's previous close.

Several other research analysts have also recently issued reports on ARVN. Barclays lowered their price objective on Arvinas from $48.00 to $32.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Cantor Fitzgerald reissued an "overweight" rating on shares of Arvinas in a report on Friday, February 7th. Morgan Stanley lowered their target price on shares of Arvinas from $48.00 to $12.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Bank of America cut their price target on shares of Arvinas from $54.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Finally, Stifel Nicolaus decreased their price objective on shares of Arvinas from $63.00 to $51.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $20.97.

Arvinas Price Performance

Shares of NASDAQ ARVN traded down $0.26 during mid-day trading on Friday, hitting $6.70. The company had a trading volume of 1,037,476 shares, compared to its average volume of 1,269,238. Arvinas has a 1-year low of $5.94 and a 1-year high of $37.38. The company has a market capitalization of $488.67 million, a PE ratio of -2.43 and a beta of 2.21. The business's 50-day simple moving average is $9.26 and its 200 day simple moving average is $17.16.

Arvinas (NASDAQ:ARVN - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $1.14 earnings per share for the quarter, beating 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 period in the previous year, the business earned ($0.97) EPS. The company's quarterly revenue was up 646.2% compared to the same quarter last year. On average, analysts expect that Arvinas will post -3.81 EPS for the current year.

Insider Buying and Selling

In other news, CEO John G. Houston sold 31,338 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $16.72, for a total transaction of $523,971.36. Following the completion of the transaction, the chief executive officer now directly owns 1,157,480 shares of the company's stock, valued at $19,353,065.60. This trade represents a 2.64 % decrease in their position. The sale 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 company's stock in a transaction that occurred 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 sale, the insider now directly owns 110,023 shares in the company, valued at approximately $945,097.57. The trade was a 7.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,230 shares of company stock valued at $769,402 over the last ninety days. Corporate insiders own 5.23% of the company's stock.

Institutional Trading of Arvinas

Several institutional investors and hedge funds have recently made changes to their positions in ARVN. Victory Capital Management Inc. lifted 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 in the last quarter. CWM LLC lifted its stake in shares of Arvinas by 2,317.5% during 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 during the period. New York State Common Retirement Fund boosted its position in Arvinas by 19.0% during the first quarter. New York State Common Retirement Fund now owns 24,313 shares of the company's stock worth $171,000 after acquiring an additional 3,888 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Arvinas in the 1st quarter worth approximately $80,000. Finally, Exchange Traded Concepts LLC raised its holdings in Arvinas by 119.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 14,642 shares of the company's stock valued at $103,000 after acquiring an additional 7,983 shares during the last quarter. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

About Arvinas

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.