Arvinas (NASDAQ:ARVN) Stock Rating Lowered by TD Cowen

Arvinas (NASDAQ:ARVN) was downgraded by TD Cowen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, MarketBeat Ratings reports.

A number of other equities analysts have also recently commented on ARVN. Stifel Nicolaus lowered their price target on Arvinas from $63.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Morgan Stanley dropped 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. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a report on Friday, February 7th. Wells Fargo & Company set a $26.00 price objective on shares of Arvinas and gave the company an “overweight” rating in a research note on Wednesday, March 12th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $10.00 target price (down previously from $52.00) on shares of Arvinas in a research note on Friday. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.82.

Arvinas Stock Up 6.8 %

ARVN stock opened at $7.72 on Friday. Arvinas has a 52 week low of $5.94 and a 52 week high of $37.38. The business has a 50-day simple moving average of $9.66 and a 200 day simple moving average of $17.44. The company has a market cap of $563.49 million, a PE ratio of -2.79 and a beta of 2.21.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.93) by $2.07. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. The business’s revenue was up 646.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.97) earnings per share. On average, analysts anticipate that Arvinas will post -3.81 EPS for the current fiscal year.

Insider Activity at Arvinas

In other Arvinas news, insider Noah Berkowitz sold 8,658 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $8.59, for a total value of $74,372.22. Following the transaction, the insider now directly owns 110,023 shares of the company’s stock, valued at approximately $945,097.57. The trade was a 7.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ian Taylor sold 9,020 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.71, for a total transaction of $150,724.20. Following the sale, the insider now directly owns 159,121 shares of the company’s stock, valued at approximately $2,658,911.91. This trade represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,230 shares of company stock worth $769,402 over the last ninety days. Insiders own 5.23% of the company’s stock.

Institutional Investors Weigh In On Arvinas

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Affinity Asset Advisors LLC raised its stake in Arvinas by 180.0% during the 4th quarter. Affinity Asset Advisors LLC now owns 630,000 shares of the company’s stock worth $12,077,000 after buying an additional 405,000 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Arvinas by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock worth $57,371,000 after purchasing an additional 367,343 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Arvinas during the 4th quarter valued at $1,534,000. Kennedy Capital Management LLC raised its holdings in Arvinas by 42.0% during the fourth quarter. Kennedy Capital Management LLC now owns 208,992 shares of the company’s stock worth $4,006,000 after buying an additional 61,802 shares during the last quarter. Finally, BIT Capital GmbH lifted its stake in shares of Arvinas by 291.7% in the fourth quarter. BIT Capital GmbH now owns 263,527 shares of the company’s stock valued at $5,052,000 after buying an additional 196,246 shares in the last quarter. 95.19% of the stock is owned by institutional investors.

Arvinas Company Profile

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.