Arvinas (NASDAQ:ARVN) Stock Price Down 2.6% – Time to Sell?

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

Wall Street Analyst Weigh In

ARVN has been the topic of a number of research reports. Wells Fargo & Company reduced 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. 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 note on Wednesday, September 24th. Stephens increased their target price on Arvinas from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Arvinas in a research report on Monday, December 22nd. Finally, Barclays upped their price target on Arvinas from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday, December 17th. Eleven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Arvinas currently has a consensus rating of “Hold” and an average price target of $16.50.

Arvinas Price Performance

The company has a market cap of $717.34 million, a price-to-earnings ratio of -13.79 and a beta of 1.89. The stock has a 50-day moving average price of $11.55 and a 200 day moving average price of $9.24.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate 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 previous year, the firm earned ($0.68) EPS. Arvinas’s quarterly revenue was down 59.1% compared to the same quarter last year. Sell-side analysts expect that Arvinas, Inc. will post -3.81 EPS for the current fiscal year.

Arvinas announced that its Board of Directors has initiated a stock buyback program on Wednesday, September 17th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 17.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Arvinas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARVN. Intech Investment Management LLC increased its holdings in Arvinas by 3.6% during the 3rd quarter. Intech Investment Management LLC now owns 32,653 shares of the company’s stock worth $278,000 after purchasing an additional 1,125 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Arvinas by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,636 shares of the company’s stock valued at $271,000 after purchasing an additional 2,122 shares in the last quarter. Oxford Asset Management LLP boosted its position in shares of Arvinas by 15.5% during the second quarter. Oxford Asset Management LLP now owns 16,705 shares of the company’s stock worth $123,000 after buying an additional 2,242 shares during the period. Entropy Technologies LP grew its holdings in shares of Arvinas by 8.6% during the third quarter. Entropy Technologies LP now owns 35,295 shares of the company’s stock worth $301,000 after buying an additional 2,804 shares in the last quarter. Finally, Nebula Research & Development LLC grew its holdings in shares of Arvinas by 3.9% during the second quarter. Nebula Research & Development LLC now owns 76,747 shares of the company’s stock worth $565,000 after buying an additional 2,910 shares in the last quarter. 95.19% of the stock is owned by institutional investors and hedge funds.

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.