Arvinas (NASDAQ:ARVN) Trading Down 4.5% on Analyst Downgrade

Arvinas, Inc. (NASDAQ:ARVNGet Rating)’s share price was down 4.5% on Wednesday after Wedbush lowered their price target on the stock from $43.00 to $27.00. The company traded as low as $30.00 and last traded at $30.08. Approximately 16,608 shares were traded during trading, a decline of 98% from the average daily volume of 808,331 shares. The stock had previously closed at $31.51.

A number of other research analysts also recently weighed in on ARVN. Credit Suisse Group raised their price target on shares of Arvinas to $81.00 in a report on Tuesday, November 15th. The Goldman Sachs Group restated a “buy” rating and set a $81.00 price target on shares of Arvinas in a report on Monday, November 28th. SVB Leerink lowered their target price on shares of Arvinas from $89.00 to $74.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 22nd. Capital One Financial assumed coverage on shares of Arvinas in a research note on Tuesday, October 25th. They issued an “overweight” rating on the stock. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $80.00 target price on shares of Arvinas in a research note on Tuesday, October 18th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $73.19.

Institutional Trading of Arvinas

Several institutional investors have recently made changes to their positions in the business. ProShare Advisors LLC boosted its position in shares of Arvinas by 2.4% during the 3rd quarter. ProShare Advisors LLC now owns 9,838 shares of the company’s stock valued at $437,000 after acquiring an additional 233 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Arvinas by 25.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,384 shares of the company’s stock valued at $69,000 after acquiring an additional 284 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Arvinas by 37.6% during the 3rd quarter. Royal Bank of Canada now owns 1,230 shares of the company’s stock valued at $54,000 after acquiring an additional 336 shares in the last quarter. Virtus ETF Advisers LLC boosted its position in shares of Arvinas by 22.7% during the 2nd quarter. Virtus ETF Advisers LLC now owns 2,880 shares of the company’s stock valued at $121,000 after acquiring an additional 532 shares in the last quarter. Finally, Occudo Quantitative Strategies LP boosted its position in shares of Arvinas by 9.4% during the 2nd quarter. Occudo Quantitative Strategies LP now owns 6,514 shares of the company’s stock valued at $274,000 after acquiring an additional 559 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Arvinas Stock Performance

The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -6.37 and a beta of 1.84. The firm’s 50-day moving average price is $39.17 and its two-hundred day moving average price is $44.42.

Arvinas (NASDAQ:ARVNGet Rating) last announced its quarterly earnings results on Tuesday, November 8th. The company reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.98) by ($0.26). Arvinas had a negative net margin of 225.34% and a negative return on equity of 36.12%. The firm had revenue of $30.30 million for the quarter, compared to the consensus estimate of $44.20 million. As a group, equities research analysts anticipate that Arvinas, Inc. will post -4.81 EPS for the current year.

Arvinas Company Profile

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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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