Arvinas (NASDAQ:ARVN) Upgraded to “Hold” at Wall Street Zen

Arvinas (NASDAQ:ARVN) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday.

ARVN has been the subject of a number of other reports. Wedbush reiterated a “neutral” rating and issued a $9.00 price objective on shares of Arvinas in a research report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arvinas in a research report on Monday, December 22nd. Wells Fargo & Company dropped their price target on shares of Arvinas from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Stephens raised their price objective on shares of Arvinas from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Finally, Barclays lifted their target price on shares of Arvinas from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, December 17th. Ten investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.12.

Arvinas Stock Performance

Shares of ARVN opened at $11.99 on Friday. The business’s fifty day moving average price is $12.36 and its two-hundred day moving average price is $10.40. The firm has a market capitalization of $770.00 million, a price-to-earnings ratio of -14.80 and a beta of 1.88. Arvinas has a 52 week low of $5.90 and a 52 week high of $19.05.

Insider Activity at Arvinas

In related news, CFO Andrew Saik sold 5,134 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $11.89, for a total transaction of $61,043.26. Following the completion of the sale, the chief financial officer directly owned 159,267 shares of the company’s stock, valued at approximately $1,893,684.63. This represents a 3.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Randy Teel sold 4,403 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $11.89, for a total transaction of $52,351.67. Following the sale, the chief executive officer owned 154,482 shares in the company, valued at $1,836,790.98. This trade represents a 2.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 16,238 shares of company stock worth $193,070. 4.73% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arvinas

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its holdings in Arvinas by 491.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock worth $43,000 after purchasing an additional 4,835 shares in the last quarter. Canada Pension Plan Investment Board boosted its position 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 during the period. State of Wyoming bought a new position in shares of Arvinas during the third quarter worth about $68,000. Abel Hall LLC acquired a new stake in Arvinas in the 4th quarter valued at approximately $125,000. Finally, Corient Private Wealth LLC bought a new stake in Arvinas in the 4th quarter valued at approximately $127,000. 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.