Arvinas (NASDAQ:ARVN) Stock Rating Lowered by Wedbush

Arvinas (NASDAQ:ARVN) was downgraded by investment analysts at Wedbush from an “outperform” rating to a “neutral” rating in a note issued to investors on Wednesday, Marketbeat.com reports. They currently have a $12.00 price target on the stock, down from their prior price target of $57.00. Wedbush’s price objective points to a potential upside of 40.35% from the stock’s current price.

A number of other equities analysts also recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $81.00 target price on shares of Arvinas in a research note on Tuesday. Oppenheimer downgraded shares of Arvinas from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Citigroup dropped their target price on shares of Arvinas from $28.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Barclays dropped their target price on shares of Arvinas from $48.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, Stephens started coverage on shares of Arvinas in a research note on Monday, November 18th. They issued an “overweight” rating and a $55.00 target price for the company. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Arvinas currently has an average rating of “Moderate Buy” and an average target price of $37.47.

Arvinas Stock Down 5.3 %

NASDAQ:ARVN opened at $8.55 on Wednesday. The firm has a market cap of $588.00 million, a PE ratio of -3.09 and a beta of 1.95. Arvinas has a 12 month low of $7.91 and a 12 month high of $46.23. The company’s 50-day moving average price is $17.77 and its two-hundred day moving average price is $22.11.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.44. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same period last year, the firm earned ($2.53) EPS. On average, research analysts expect that Arvinas will post -3.81 EPS for the current fiscal year.

Insider Activity at Arvinas

In related news, CEO John G. Houston sold 31,338 shares of the business’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 owns 1,157,480 shares in the company, valued at approximately $19,353,065.60. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ian Taylor sold 9,020 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $16.71, for a total transaction of $150,724.20. Following the transaction, the insider now owns 159,121 shares of the company’s stock, valued at approximately $2,658,911.91. This represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,572 shares of company stock worth $695,030. 5.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in shares of Arvinas by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock valued at $57,371,000 after buying an additional 367,343 shares during the period. Baker BROS. Advisors LP acquired a new position in shares of Arvinas in the third quarter valued at approximately $9,989,000. SG Americas Securities LLC boosted its holdings in shares of Arvinas by 228.8% in the fourth quarter. SG Americas Securities LLC now owns 32,424 shares of the company’s stock valued at $622,000 after buying an additional 22,564 shares during the period. Wasatch Advisors LP boosted its holdings in shares of Arvinas by 58.3% in the third quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock valued at $10,737,000 after buying an additional 160,510 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Arvinas by 198.9% in the third quarter. Barclays PLC now owns 121,699 shares of the company’s stock valued at $2,998,000 after buying an additional 80,984 shares during the period. Institutional investors and hedge funds 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.