Arvinas (NASDAQ:ARVN) Rating Lowered to Sell at Wall Street Zen

Arvinas (NASDAQ:ARVN) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other brokerages have also recently issued reports on ARVN. BTIG Research increased their target price on shares of Arvinas from $10.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Barclays upped their price target on Arvinas from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, December 17th. Citigroup raised Arvinas from a “neutral” rating to a “buy” rating and raised their price objective for the company from $10.00 to $15.00 in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arvinas in a research report on Monday, December 22nd. Finally, Wells Fargo & Company lowered their target price on Arvinas from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Ten equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $13.12.

Arvinas Stock Down 1.6%

NASDAQ:ARVN opened at $11.65 on Friday. The firm’s fifty day simple moving average is $12.47 and its 200-day simple moving average is $10.22. The stock has a market cap of $748.16 million, a PE ratio of -14.38 and a beta of 1.88. Arvinas has a fifty-two week low of $5.90 and a fifty-two week high of $20.38.

Hedge Funds Weigh In On Arvinas

Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its stake in Arvinas by 491.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock valued at $43,000 after purchasing an additional 4,835 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Arvinas by 109.4% during the second quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock worth $49,000 after buying an additional 3,500 shares in the last quarter. State of Wyoming acquired a new position in shares of Arvinas in the third quarter valued at approximately $68,000. Virtus Investment Advisers LLC lifted its stake in shares of Arvinas by 49.3% during the second quarter. Virtus Investment Advisers LLC now owns 12,422 shares of the company’s stock valued at $91,000 after buying an additional 4,104 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Arvinas during the third quarter worth approximately $92,000. 95.19% of the stock is owned by institutional investors and hedge funds.

Arvinas Company Profile

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.