Arvinas (NASDAQ:ARVN) Cut to Hold at Leerink Partnrs

Leerink Partnrs cut shares of Arvinas (NASDAQ:ARVN) from a strong-buy rating to a hold rating in a research note issued to investors on Sunday morning,Zacks.com reports.

Several other equities research analysts have also recently commented on the stock. Citigroup dropped their target price on shares of Arvinas from $10.00 to $9.50 and set a “neutral” rating for the company in a research report on Monday, May 5th. Truist Financial reissued a “hold” rating and set a $11.00 price objective (down previously from $21.00) on shares of Arvinas in a research note on Monday, May 5th. Wedbush lowered shares of Arvinas from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $57.00 to $12.00 in a research note on Wednesday, March 12th. Leerink Partners reissued a “market perform” rating and set a $9.00 price objective (down previously from $10.00) on shares of Arvinas in a research note on Monday. Finally, Wells Fargo & Company dropped their price objective on shares of Arvinas from $26.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Arvinas currently has an average rating of “Moderate Buy” and a consensus price target of $20.29.

Arvinas Trading Down 4.5%

NASDAQ:ARVN opened at $7.00 on Friday. The company has a 50-day moving average price of $7.28 and a 200-day moving average price of $14.40. Arvinas has a 12 month low of $5.90 and a 12 month high of $34.11. The stock has a market cap of $510.94 million, a price-to-earnings ratio of -2.53 and a beta of 2.21.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Thursday, May 1st. The company reported $1.14 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the business posted ($0.97) earnings per share. The business’s quarterly revenue was up 646.2% on a year-over-year basis. Equities analysts forecast that Arvinas will post -3.81 EPS for the current fiscal year.

Insider Buying and Selling at Arvinas

In other Arvinas news, insider Noah Berkowitz sold 8,658 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $8.59, for a total transaction of $74,372.22. Following the completion of the sale, the insider now directly owns 110,023 shares of the company’s stock, valued at approximately $945,097.57. This represents a 7.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.73% of the stock is owned by corporate insiders.

Institutional Trading of Arvinas

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Arvinas by 18.4% in the first quarter. Vanguard Group Inc. now owns 8,362,200 shares of the company’s stock worth $58,703,000 after purchasing an additional 1,299,639 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Arvinas by 6.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,103,011 shares of the company’s stock worth $78,656,000 after purchasing an additional 249,295 shares in the last quarter. RTW Investments LP increased its stake in shares of Arvinas by 19.8% in the fourth quarter. RTW Investments LP now owns 3,334,308 shares of the company’s stock worth $63,919,000 after purchasing an additional 551,979 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Arvinas in the fourth quarter worth $42,332,000. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Arvinas in the first quarter worth $12,636,000. 95.19% of the stock is owned by hedge funds and other 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.