Weiss Ratings Reiterates Sell (E+) Rating for Arvinas (NASDAQ:ARVN)

Key Points

• Weiss Ratings has reiterated a "sell (E+)" rating for Arvinas (NASDAQ:ARVN), indicating ongoing negative sentiment from investment analysts.
• Despite the sell rating, several other firms maintain favorable outlooks with a majority offering "buy" or "overweight" ratings and a price target consensus of $16.29.
• Arvinas aims to repurchase up to $100 million of its stock, reflecting management's belief that the shares are undervalued.

Arvinas (NASDAQ:ARVN - Get Free Report)'s stock had its "sell (e+)" rating reissued by investment analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

ARVN has been the subject of several other reports. Piper Sandler reaffirmed an "overweight" rating and set a $16.00 price target on shares of Arvinas in a report on Tuesday. Wells Fargo & Company decreased their price target on Arvinas from $19.00 to $16.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Wedbush reaffirmed a "neutral" rating and set a $9.00 price target (down from $10.00) on shares of Arvinas in a report on Thursday, September 18th. HC Wainwright decreased their price target on Arvinas from $24.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Finally, Stephens cut their price objective on Arvinas from $16.00 to $14.00 and set an "overweight" rating for the company in a research report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $16.29.

Arvinas Stock Up 4.8%

ARVN traded up $0.45 on Wednesday, reaching $9.75. The company's stock had a trading volume of 1,904,741 shares, compared to its average volume of 2,135,357. The company has a market capitalization of $715.85 million, a price-to-earnings ratio of -9.65 and a beta of 2.39. Arvinas has a fifty-two week low of $5.90 and a fifty-two week high of $29.61. The stock has a 50 day moving average of $7.70 and a two-hundred day moving average of $7.55.

Arvinas (NASDAQ:ARVN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.84) earnings per share for the quarter, beating the consensus estimate of ($0.87) by $0.03. The business had revenue of $22.40 million during the quarter, compared to the consensus estimate of $34.42 million. Arvinas had a negative return on equity of 12.01% and a negative net margin of 19.47%.The company's revenue was down 70.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.49) earnings per share. As a group, analysts anticipate that Arvinas will post -3.81 earnings per share for the current fiscal year.

Arvinas declared that its Board of Directors has authorized a share repurchase plan on Wednesday, September 17th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire up to 17.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Arvinas

In other news, Director Briggs Morrison purchased 30,000 shares of the company's stock in a transaction dated Monday, September 22nd. The stock was acquired at an average price of $7.57 per share, for a total transaction of $227,100.00. Following the completion of the transaction, the director directly owned 76,021 shares in the company, valued at $575,478.97. This represents a 65.19% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 4.73% of the stock is currently owned by corporate insiders.

Institutional Trading of Arvinas

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in Arvinas by 11,283.8% during the 1st quarter. GAMMA Investing LLC now owns 4,212 shares of the company's stock worth $300,000 after purchasing an additional 4,175 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in Arvinas by 965.4% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,656 shares of the company's stock worth $33,000 after purchasing an additional 4,219 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Arvinas by 491.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company's stock worth $43,000 after purchasing an additional 4,835 shares in the last quarter. Canada Pension Plan Investment Board increased its position in Arvinas by 109.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company's stock worth $49,000 after purchasing an additional 3,500 shares in the last quarter. Finally, CWM LLC increased its position in 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 purchasing an additional 7,300 shares in the last quarter. Hedge funds and other institutional investors own 95.19% of the company's stock.

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.

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