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

Shares of Arvinas, Inc. (NASDAQ:ARVN) have been assigned a consensus recommendation of “Hold” from the thirteen research firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $15.4167.

Several brokerages have weighed in on ARVN. Citigroup increased their price objective on Arvinas from $21.00 to $24.00 and gave the company a “buy” rating in a report on Monday, May 4th. Weiss Ratings upgraded Arvinas from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 13th. Barclays upped their price target on Arvinas from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Wall Street Zen downgraded Arvinas from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. Finally, Zacks Research raised Arvinas from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th.

Insider Transactions at Arvinas

In related news, CEO Randy Teel sold 9,657 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $9.94, for a total value of $95,990.58. Following the completion of the transaction, the chief executive officer directly owned 287,218 shares of the company’s stock, valued at approximately $2,854,946.92. This trade represents a 3.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Noah Berkowitz sold 11,108 shares of Arvinas stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $9.94, for a total transaction of $110,413.52. Following the completion of the transaction, the insider owned 191,395 shares of the company’s stock, valued at $1,902,466.30. This represents a 5.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 41,728 shares of company stock worth $402,649 over the last quarter. Corporate insiders own 7.30% of the company’s stock.

Institutional Trading of Arvinas

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. TCG Crossover Management LLC purchased a new stake in Arvinas during the 3rd quarter worth about $13,780,000. Balyasny Asset Management L.P. grew its holdings in Arvinas by 469.1% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,207,267 shares of the company’s stock valued at $10,286,000 after buying an additional 995,125 shares in the last quarter. Qube Research & Technologies Ltd increased its position in shares of Arvinas by 154.8% during the third quarter. Qube Research & Technologies Ltd now owns 1,486,864 shares of the company’s stock valued at $12,668,000 after buying an additional 903,337 shares during the period. Millennium Management LLC increased its position in shares of Arvinas by 208.4% during the first quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock valued at $9,198,000 after buying an additional 885,483 shares during the period. Finally, Armistice Capital LLC lifted its holdings in shares of Arvinas by 114.3% in the third quarter. Armistice Capital LLC now owns 1,200,000 shares of the company’s stock worth $10,224,000 after buying an additional 640,000 shares in the last quarter. 95.19% of the stock is currently owned by institutional investors.

Arvinas Stock Performance

NASDAQ ARVN opened at $8.03 on Friday. The company has a market capitalization of $518.10 million, a PE ratio of -2.42 and a beta of 1.74. Arvinas has a 52-week low of $6.05 and a 52-week high of $14.51. The company has a 50-day simple moving average of $8.16 and a 200 day simple moving average of $10.50.

Arvinas (NASDAQ:ARVN) last released its earnings results on Monday, May 11th. The company reported ($0.90) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.05. Arvinas had a negative net margin of 247.54% and a negative return on equity of 44.38%. The firm had revenue of $15.60 million during the quarter, compared to the consensus estimate of $16.61 million. During the same period in the prior year, the firm earned $1.14 EPS. The company’s revenue was down 91.7% compared to the same quarter last year. As a group, analysts forecast that Arvinas will post -2.82 EPS for the current fiscal year.

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.