UBS Group Has Lowered Expectations for Arvinas (NASDAQ:ARVN) Stock Price

Arvinas (NASDAQ:ARVN) had its price objective lowered by investment analysts at UBS Group from $74.00 to $21.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s target price would suggest a potential upside of 223.57% from the company’s previous close.

Several other analysts have also recently issued reports on the company. The Goldman Sachs Group cut their price target on Arvinas from $12.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Stifel Nicolaus reduced their target price on shares of Arvinas from $63.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Oppenheimer lowered shares of Arvinas from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 11th. Bank of America cut their price objective on shares of Arvinas from $54.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Finally, Barclays decreased their target price on shares of Arvinas from $32.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.92.

Arvinas Trading Up 3.7%

Shares of Arvinas stock opened at $6.49 on Thursday. The stock’s fifty day moving average price is $7.69 and its 200-day moving average price is $16.11. The firm has a market cap of $473.71 million, a P/E ratio of -2.34 and a beta of 2.21. Arvinas has a 12 month low of $5.90 and a 12 month high of $37.38.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Thursday, May 1st. The company reported $1.14 EPS for the quarter, beating 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%. During the same quarter in the prior year, the business posted ($0.97) EPS. The firm’s revenue was up 646.2% on a year-over-year basis. Analysts forecast that Arvinas will post -3.81 earnings per share for the current year.

Insider Buying and Selling

In other Arvinas news, CEO John G. Houston sold 31,338 shares of Arvinas stock in a transaction dated Monday, February 24th. The stock was 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. This trade represents a 2.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Noah Berkowitz sold 8,658 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $8.59, for a total value of $74,372.22. Following the completion of the transaction, the insider now directly owns 110,023 shares of the company’s stock, 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. In the last quarter, insiders have sold 50,230 shares of company stock worth $769,402. 4.73% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arvinas

Several hedge funds have recently bought and sold shares of the stock. Woodline Partners LP increased its holdings in shares of Arvinas by 0.5% during the 1st quarter. Woodline Partners LP now owns 695,945 shares of the company’s stock valued at $4,886,000 after purchasing an additional 3,212 shares in the last quarter. Philosophy Capital Management LLC acquired a new stake in Arvinas during the first quarter valued at $6,992,000. Millennium Management LLC increased its holdings in Arvinas by 208.4% in the first quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock valued at $9,198,000 after buying an additional 885,483 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Arvinas by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,636 shares of the company’s stock valued at $271,000 after buying an additional 2,122 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Arvinas in the first quarter worth about $301,000. 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.