Arvinas (NASDAQ:ARVN) Shares Down 2.6% – Should You Sell?

Shares of Arvinas, Inc. (NASDAQ:ARVN) traded down 2.6% during mid-day trading on Monday . The company traded as low as $11.01 and last traded at $11.17. 684,941 shares traded hands during trading, a decline of 15% from the average session volume of 807,178 shares. The stock had previously closed at $11.47.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ARVN. BTIG Research lifted their price objective on Arvinas from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $16.00 price target on shares of Arvinas in a research report on Tuesday, October 7th. The Goldman Sachs Group reiterated a “sell” rating and set a $6.00 price target (down from $8.00) on shares of Arvinas in a report on Wednesday, October 15th. Bank of America cut Arvinas from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research report on Wednesday, September 24th. Finally, Wells Fargo & Company dropped their target price on shares of Arvinas from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Eleven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $16.50.

Arvinas Stock Performance

The company has a market cap of $717.34 million, a P/E ratio of -13.79 and a beta of 1.89. The stock has a 50-day simple moving average of $11.55 and a 200 day simple moving average of $9.24.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Wednesday, November 5th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.27. Arvinas had a negative return on equity of 9.77% and a negative net margin of 18.73%.The business had revenue of $41.90 million during the quarter, compared to analyst estimates of $29.36 million. During the same period in the prior year, the company posted ($0.68) earnings per share. Arvinas’s revenue was down 59.1% on a year-over-year basis. Sell-side analysts anticipate that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

Arvinas declared that its Board of Directors has initiated a share repurchase plan on Wednesday, September 17th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 17.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Arvinas

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Monaco Asset Management SAM raised its position in Arvinas by 185.6% in the 2nd quarter. Monaco Asset Management SAM now owns 900,936 shares of the company’s stock valued at $6,631,000 after purchasing an additional 585,477 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Arvinas by 791.1% in the second quarter. Acadian Asset Management LLC now owns 1,427,832 shares of the company’s stock valued at $10,498,000 after buying an additional 1,267,593 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Arvinas in the second quarter valued at about $404,000. SG Americas Securities LLC bought a new position in shares of Arvinas in the second quarter valued at about $390,000. Finally, Palumbo Wealth Management LLC acquired a new position in Arvinas during the 2nd quarter worth about $492,000. Institutional investors own 95.19% of the company’s stock.

About Arvinas

Arvinas, Inc (NASDAQ: ARVN) is a biopharmaceutical company focused on the development of therapies based on targeted protein degradation. Utilizing its proprietary proteolysis-targeting chimera (PROTAC®) platform, Arvinas aims to selectively eliminate disease-causing proteins rather than merely inhibit their activity. This novel approach has the potential to address a range of diseases, including oncology, neurodegeneration and inflammation, by harnessing the body’s natural protein-recycling systems.

The company’s most advanced clinical candidates address hormone-driven cancers.