Arvinas (NASDAQ:ARVN) Rating Lowered to “Hold” at TD Cowen

Arvinas (NASDAQ:ARVN) was downgraded by equities researchers at TD Cowen from a “buy” rating to a “hold” rating in a research note issued on Friday, MarketBeat Ratings reports.

A number of other brokerages also recently issued reports on ARVN. The Goldman Sachs Group reduced their price objective on Arvinas from $15.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Wedbush downgraded shares of Arvinas from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $57.00 to $12.00 in a report on Wednesday, March 12th. Bank of America reduced their target price on shares of Arvinas from $54.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Morgan Stanley decreased their price target on shares of Arvinas from $48.00 to $12.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Finally, BMO Capital Markets set a $20.00 price objective on Arvinas and gave the company an “outperform” rating in a report on Wednesday, March 12th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.82.

Arvinas Price Performance

ARVN opened at $7.72 on Friday. The firm’s fifty day moving average price is $9.66 and its two-hundred day moving average price is $17.44. The company has a market capitalization of $563.49 million, a price-to-earnings ratio of -2.79 and a beta of 2.21. Arvinas has a 1 year low of $5.94 and a 1 year high of $37.38.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.14 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the business posted ($0.97) earnings per share. The firm’s revenue was up 646.2% on a year-over-year basis. As a group, equities analysts anticipate that Arvinas will post -3.81 EPS for the current year.

Insider Activity at Arvinas

In other Arvinas news, CEO John G. Houston sold 31,338 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $16.72, for a total value of $523,971.36. Following the transaction, the chief executive officer now directly owns 1,157,480 shares in the company, valued at $19,353,065.60. This represents a 2.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Noah Berkowitz sold 8,658 shares of Arvinas 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 sale, the insider now 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. Over the last 90 days, insiders sold 50,230 shares of company stock valued at $769,402. Corporate insiders own 5.23% of the company’s stock.

Institutional Trading of Arvinas

Hedge funds have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new position in shares of Arvinas during the 4th quarter valued at about $28,000. CWM LLC grew its position in Arvinas by 2,317.5% during the first quarter. CWM LLC now owns 7,615 shares of the company’s stock valued at $53,000 after acquiring an additional 7,300 shares during the last quarter. KBC Group NV raised its stake in shares of Arvinas by 77.0% during the fourth quarter. KBC Group NV now owns 2,885 shares of the company’s stock worth $55,000 after acquiring an additional 1,255 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Arvinas in the 1st quarter valued at $80,000. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Arvinas by 119.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 14,642 shares of the company’s stock valued at $103,000 after purchasing an additional 7,983 shares in the last quarter. 95.19% of the stock is owned by institutional investors.

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.