Arvinas, Inc. (NASDAQ:ARVN) Given Consensus Rating of “Hold” by Analysts

Arvinas, Inc. (NASDAQ:ARVN) has received a consensus rating of “Hold” from the thirteen ratings firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $15.4167.

A number of analysts have weighed in on the company. Barclays increased their target price on Arvinas from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Wedbush increased their target price on Arvinas from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Piper Sandler reiterated an “overweight” rating and issued a $20.00 target price (up from $16.00) on shares of Arvinas in a research note on Wednesday, February 25th. Citigroup increased their target price on Arvinas from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Finally, Stephens reiterated an “overweight” rating and issued a $18.00 target price on shares of Arvinas in a research note on Wednesday.

Insider Activity

In other news, CFO Andrew Saik sold 11,139 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $9.94, for a total transaction of $110,721.66. Following the transaction, the chief financial officer owned 193,128 shares in the company, valued at approximately $1,919,692.32. This trade represents a 5.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $9.94, for a total value of $110,413.52. Following the transaction, the insider owned 191,395 shares in the company, valued at approximately $1,902,466.30. This represents a 5.49% decrease in their position. 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. Over the last 90 days, insiders have sold 42,467 shares of company stock worth $427,598. Company insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Arvinas

Several institutional investors have recently made changes to their positions in ARVN. Hussman Strategic Advisors Inc. bought a new stake in Arvinas during the fourth quarter valued at about $1,245,000. JPMorgan Chase & Co. boosted its position in Arvinas by 475.5% during the third quarter. JPMorgan Chase & Co. now owns 214,779 shares of the company’s stock valued at $1,830,000 after purchasing an additional 177,460 shares in the last quarter. Brummer Multi Strategy AB bought a new stake in Arvinas during the fourth quarter valued at about $1,973,000. BML Capital Management LLC bought a new stake in Arvinas during the third quarter valued at about $426,000. Finally, Arbiter Partners Capital Management LLC bought a new stake in Arvinas during the third quarter valued at about $3,858,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Stock Up 0.5%

ARVN stock opened at $7.74 on Friday. The business’s fifty day simple moving average is $9.99 and its two-hundred day simple moving average is $11.54. Arvinas has a twelve month low of $6.05 and a twelve month high of $14.51. The firm has a market cap of $499.39 million, a price-to-earnings ratio of -2.33 and a beta of 1.74.

Arvinas (NASDAQ:ARVN) last released its earnings results on Monday, May 11th. The company reported ($0.90) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.05. Arvinas had a negative return on equity of 44.38% and a negative net margin of 247.54%.The business had revenue of $15.60 million for the quarter, compared to analyst estimates of $16.61 million. During the same quarter last year, the firm posted $1.14 earnings per share. The business’s revenue was down 91.7% compared to the same quarter last year. Research analysts expect that Arvinas will post -2.83 EPS for the current year.

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.