Arvinas (NASDAQ:ARVN) Upgraded to Sell at Wall Street Zen

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

Several other analysts have also recently weighed in on ARVN. Citigroup lifted their price target on Arvinas from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, May 4th. BTIG Research lifted their target price on Arvinas from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Barclays upped their price target on shares of Arvinas from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Stephens reiterated an “overweight” rating and issued a $18.00 price objective on shares of Arvinas in a research note on Wednesday, June 3rd. Finally, Zacks Research raised shares of Arvinas from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Arvinas currently has a consensus rating of “Hold” and a consensus price target of $15.42.

Arvinas Stock Performance

Shares of ARVN opened at $8.03 on Friday. The firm has a market cap of $518.10 million, a P/E 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 firm’s 50-day simple moving average is $8.16 and its 200 day simple moving average is $10.50.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.90) earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the business posted $1.14 earnings per share. The business’s revenue for the quarter was down 91.7% compared to the same quarter last year. As a group, equities analysts forecast that Arvinas will post -2.82 earnings per share for the current year.

Insider Buying and Selling

In other Arvinas news, CFO Andrew Saik sold 11,139 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $9.94, for a total transaction of $110,721.66. Following the sale, the chief financial officer directly owned 193,128 shares in the company, valued at $1,919,692.32. This represents a 5.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 dated 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 directly owned 191,395 shares in the company, valued at approximately $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. Over the last quarter, insiders have sold 41,728 shares of company stock worth $402,649. Company insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ARVN. Tower Research Capital LLC TRC increased its position in Arvinas by 491.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock valued at $43,000 after acquiring an additional 4,835 shares during the period. Canada Pension Plan Investment Board lifted its holdings 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 purchasing an additional 3,500 shares during the period. Abel Hall LLC bought a new stake in shares of Arvinas in the fourth quarter worth $125,000. Corient Private Wealth LLC acquired a new stake in Arvinas in the fourth quarter valued at $127,000. Finally, Jain Global LLC acquired a new stake in Arvinas in the third quarter valued at $95,000. 95.19% of the stock is owned by institutional investors.

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.