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

Shares of Arvinas, Inc. (NASDAQ:ARVN) have received a consensus rating of “Hold” from the thirteen analysts that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $15.4167.

Several research firms have issued reports on ARVN. Zacks Research raised Arvinas from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. Wall Street Zen cut Arvinas from a “hold” rating to a “sell” rating in a report on Monday, March 2nd. Citigroup upped their price target on Arvinas from $21.00 to $24.00 and gave the company a “buy” rating in a report on Monday, May 4th. Stephens reissued an “overweight” rating and set a $18.00 target price on shares of Arvinas in a research note on Wednesday, June 3rd. Finally, BTIG Research boosted their target price on shares of Arvinas from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th.

Insider Buying and Selling at Arvinas

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

Institutional Trading of Arvinas

Several large investors have recently added to or reduced their stakes in ARVN. TCG Crossover Management LLC acquired a new stake in Arvinas during the 3rd quarter valued at $13,780,000. Balyasny Asset Management L.P. increased its stake in shares of Arvinas by 469.1% in the third quarter. Balyasny Asset Management L.P. now owns 1,207,267 shares of the company’s stock worth $10,286,000 after acquiring an additional 995,125 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Arvinas by 154.8% in the third quarter. Qube Research & Technologies Ltd now owns 1,486,864 shares of the company’s stock worth $12,668,000 after acquiring an additional 903,337 shares during the last quarter. Millennium Management LLC increased its stake in shares of Arvinas by 208.4% in the first quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock worth $9,198,000 after acquiring an additional 885,483 shares during the last quarter. Finally, Armistice Capital LLC increased its stake 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 acquiring an additional 640,000 shares during the last quarter. 95.19% of the stock is owned by institutional investors and hedge funds.

Arvinas Stock Performance

NASDAQ ARVN opened at $8.29 on Tuesday. The stock has a market capitalization of $534.87 million, a P/E ratio of -2.50 and a beta of 1.75. Arvinas has a 1 year low of $6.05 and a 1 year high of $14.51. The business’s fifty day moving average is $8.88 and its two-hundred day moving average is $10.99.

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