Arvinas, Inc. (NASDAQ:ARVN) Receives Average Rating of “Hold” from Analysts

Shares of Arvinas, Inc. (NASDAQ:ARVN) have been assigned an average recommendation of “Hold” from the nineteen research firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $13.8824.

Several research analysts have recently commented on ARVN shares. Weiss Ratings restated a “sell (d-)” rating on shares of Arvinas in a research report on Monday, December 22nd. Citigroup boosted their price objective on Arvinas from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday. Barclays increased their target price on Arvinas from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 17th. BTIG Research raised their target price on Arvinas from $14.00 to $16.00 and gave the company a “buy” rating in a report on Thursday. Finally, Truist Financial set a $10.00 target price on Arvinas in a research report on Wednesday.

Arvinas Stock Performance

Shares of ARVN stock opened at $10.94 on Friday. The firm’s 50 day moving average price is $12.70 and its 200-day moving average price is $11.17. Arvinas has a one year low of $5.90 and a one year high of $14.51. The firm has a market cap of $699.72 million, a P/E ratio of -8.55 and a beta of 1.87.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings data on Tuesday, February 24th. The company reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.55). The company had revenue of $9.50 million for the quarter, compared to analysts’ expectations of $37.26 million. Arvinas had a negative return on equity of 14.25% and a negative net margin of 30.77%.The business’s revenue for the quarter was down 84.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.63) EPS. As a group, research analysts predict that Arvinas will post -3.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arvinas news, Director Briggs Morrison bought 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The shares were purchased at an average cost of $13.40 per share, with a total value of $268,000.00. Following the purchase, the director directly owned 96,021 shares in the company, valued at approximately $1,286,681.40. This represents a 26.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Noah Berkowitz sold 6,435 shares of the stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $11.10, for a total transaction of $71,428.50. Following the sale, the insider owned 202,503 shares in the company, valued at approximately $2,247,783.30. This trade represents a 3.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 63,864 shares of company stock valued at $802,443. 4.73% of the stock is owned by company insiders.

Institutional Trading of Arvinas

A number of large investors have recently modified their holdings of the stock. Armistice Capital LLC raised its stake in shares of Arvinas by 50.0% in the fourth quarter. Armistice Capital LLC now owns 1,800,000 shares of the company’s stock valued at $21,348,000 after acquiring an additional 600,000 shares in the last quarter. TCG Crossover Management LLC purchased a new position in Arvinas in the third quarter valued at $13,780,000. Geode Capital Management LLC grew its stake in Arvinas by 3.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,585,092 shares of the company’s stock worth $11,668,000 after purchasing an additional 48,296 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in Arvinas by 154.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,486,864 shares of the company’s stock worth $12,668,000 after purchasing an additional 903,337 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Arvinas by 208.4% during the 1st quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock worth $9,198,000 after purchasing an additional 885,483 shares during the period. Hedge funds and other institutional investors own 95.19% of the company’s stock.

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.