Arvinas’ (ARVN) Hold Rating Reaffirmed at Truist Financial

Truist Financial reiterated their hold rating on shares of Arvinas (NASDAQ:ARVN) in a research note published on Monday, MarketBeat.com reports. They currently have a $11.00 price target on the stock, down from their prior price target of $21.00.

Several other equities analysts have also recently issued reports on ARVN. Barclays dropped their price objective on shares of Arvinas from $32.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday. Guggenheim reduced their price objective on shares of Arvinas from $32.00 to $16.00 and set a “buy” rating for the company in a research report on Friday. HC Wainwright reduced their price target on Arvinas from $81.00 to $24.00 and set a “buy” rating for the company in a report on Friday. Wells Fargo & Company decreased their target price on shares of Arvinas from $26.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Citigroup lowered their price target on shares of Arvinas from $28.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.09.

Arvinas Stock Performance

Shares of ARVN opened at $7.63 on Monday. The company has a market capitalization of $556.92 million, a price-to-earnings ratio of -2.75 and a beta of 2.21. Arvinas has a fifty-two week low of $5.94 and a fifty-two week high of $37.38. The firm has a 50-day simple moving average of $9.47 and a 200-day simple moving average of $17.23.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings data 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 return on equity of 33.75% and a negative net margin of 75.51%. The firm’s revenue was up 646.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.97) earnings per share. Equities research analysts forecast that Arvinas will post -3.81 EPS for the current year.

Insider Activity

In other news, 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 value of $150,724.20. Following the completion of the transaction, the insider now owns 159,121 shares of the company’s stock, valued at $2,658,911.91. The trade was a 5.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Noah Berkowitz sold 8,658 shares of the firm’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 transaction of $74,372.22. Following the sale, the insider now owns 110,023 shares in the company, valued at approximately $945,097.57. This trade represents a 7.30 % 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 three months. 5.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Barclays PLC increased its stake in 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 purchasing an additional 80,984 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Arvinas by 11.6% during the 3rd quarter. Franklin Resources Inc. now owns 69,190 shares of the company’s stock valued at $1,776,000 after acquiring an additional 7,166 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Arvinas by 4.1% in the fourth quarter. Nordea Investment Management AB now owns 232,886 shares of the company’s stock worth $4,404,000 after acquiring an additional 9,196 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Arvinas by 0.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 140,518 shares of the company’s stock valued at $2,694,000 after purchasing an additional 777 shares during the period. Finally, SG Americas Securities LLC increased its position in Arvinas by 228.8% during the fourth quarter. SG Americas Securities LLC now owns 32,424 shares of the company’s stock worth $622,000 after purchasing an additional 22,564 shares during 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.