Arvinas (NASDAQ:ARVN) Releases Quarterly Earnings Results, Misses Expectations By $0.29 EPS

Arvinas (NASDAQ:ARVN – Get Rating) issued its quarterly earnings results on Thursday. The company reported ($1.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.29), Briefing.com reports. The firm had revenue of $24.20 million for the quarter, compared to the consensus estimate of $25.51 million. Arvinas had a negative net margin of 409.29% and a negative return on equity of 27.31%. The firm’s quarterly revenue was up 340.0% compared to the same quarter last year.

Shares of NASDAQ:ARVN opened at $49.20 on Friday. The firm has a fifty day moving average price of $64.57 and a 200 day moving average price of $72.15. Arvinas has a fifty-two week low of $47.27 and a fifty-two week high of $108.46.

ARVN has been the topic of a number of research analyst reports. Wells Fargo & Company initiated coverage on shares of Arvinas in a research report on Thursday, February 10th. They set an “overweight” rating and a $98.00 price objective on the stock. Zacks Investment Research lowered shares of Arvinas from a “buy” rating to a “hold” rating in a research note on Thursday, March 3rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research note on Friday, April 1st. Wedbush reduced their target price on shares of Arvinas from $115.00 to $98.00 in a research report on Friday, February 18th. Finally, Credit Suisse Group started coverage on shares of Arvinas in a research report on Thursday, April 28th. They set an “outperform” rating and a $104.00 target price for the company. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Arvinas presently has an average rating of “Buy” and an average target price of $110.39.

In other Arvinas news, CEO John G. Houston sold 6,024 shares of the stock in a transaction dated Friday, March 4th. The shares were sold at an average price of $63.94, for a total transaction of $385,174.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ian Taylor sold 869 shares of the stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $63.94, for a total transaction of $55,563.86. The disclosure for this sale can be found here. Insiders have sold 64,446 shares of company stock valued at $4,445,577 in the last quarter. 6.45% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC purchased a new position in Arvinas during the 3rd quarter worth approximately $296,000. Royal Bank of Canada increased its holdings in shares of Arvinas by 43.6% during the 3rd quarter. Royal Bank of Canada now owns 4,293 shares of the company’s stock valued at $352,000 after purchasing an additional 1,304 shares in the last quarter. Guggenheim Capital LLC increased its holdings in Arvinas by 67.4% in the 4th quarter. Guggenheim Capital LLC now owns 4,338 shares of the company’s stock worth $356,000 after acquiring an additional 1,747 shares in the last quarter. LPL Financial LLC increased its holdings in Arvinas by 24.3% in the 3rd quarter. LPL Financial LLC now owns 5,228 shares of the company’s stock worth $430,000 after acquiring an additional 1,023 shares in the last quarter. Finally, Amalgamated Bank increased its holdings in Arvinas by 6.6% in the 4th quarter. Amalgamated Bank now owns 8,276 shares of the company’s stock worth $680,000 after acquiring an additional 512 shares in the last quarter. Institutional investors own 84.52% of the company’s stock.

About Arvinas (Get Rating)

Arvinas, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its lead product candidates include Bavdegalutamide, a proteolysis targeting chimera (PROTAC) protein degrader that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer (mCRPC); ARV-471, a PROTAC protein degrader targeting the estrogen receptor protein for the treatment of patients with metastatic ER positive/HER2 negative breast cancer; and ARV-766 an investigational orally bioavailable PROTAC protein degrader for the treatment of men with mCRPC.

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