Arvinas (NASDAQ:ARVN) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Arvinas (NASDAQ:ARVN) from a hold rating to a sell rating in a research note released on Friday, Zacks.com reports.

According to Zacks, “Arvinas Inc. is a biopharmaceutical company for patients suffering from debilitating and life-threatening diseases. It engages in the discovery, development and commercialization of therapies to degrade disease-causing proteins. Arvinas Inc. is based in CT, United States. “

A number of other equities analysts have also recently issued reports on the stock. Oppenheimer raised their price objective on shares of Arvinas from $80.00 to $100.00 in a research note on Tuesday, January 19th. Cantor Fitzgerald raised their price objective on shares of Arvinas from $121.00 to $140.00 and gave the company an overweight rating in a research note on Tuesday, March 30th. Northern Trust Capital Markets assumed coverage on shares of Arvinas in a research note on Wednesday, April 21st. They issued a buy rating on the stock. Truist assumed coverage on shares of Arvinas in a research note on Wednesday, April 21st. They issued a buy rating and a $150.00 price objective on the stock. Finally, Truist Securities assumed coverage on shares of Arvinas in a research note on Wednesday, April 21st. They issued a buy rating and a $150.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. Arvinas has an average rating of Buy and a consensus price target of $111.43.

ARVN opened at $66.09 on Friday. Arvinas has a one year low of $19.68 and a one year high of $92.77. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.53 and a quick ratio of 6.53. The company’s 50 day simple moving average is $66.27 and its 200-day simple moving average is $57.95. The stock has a market capitalization of $3.23 billion, a P/E ratio of -25.82 and a beta of 2.14.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Sunday, February 28th. The company reported ($0.99) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.78) by ($0.21). Arvinas had a negative net margin of 403.77% and a negative return on equity of 46.99%. The company had revenue of $2.22 million for the quarter, compared to the consensus estimate of $7.46 million. As a group, analysts anticipate that Arvinas will post -2.77 EPS for the current year.

In related news, CFO Sean A. Cassidy sold 41,959 shares of the firm’s stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $78.46, for a total transaction of $3,292,103.14. Following the sale, the chief financial officer now directly owns 161,599 shares in the company, valued at $12,679,057.54. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John G. Houston sold 44,000 shares of the firm’s stock in a transaction on Tuesday, February 16th. The stock was sold at an average price of $78.79, for a total transaction of $3,466,760.00. Following the sale, the chief executive officer now owns 860,000 shares in the company, valued at $67,759,400. The disclosure for this sale can be found here. Over the last three months, insiders have sold 142,189 shares of company stock worth $10,845,877. Insiders own 10.99% of the company’s stock.

Several large investors have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in shares of Arvinas by 21.4% during the fourth quarter. BlackRock Inc. now owns 2,815,747 shares of the company’s stock worth $239,142,000 after acquiring an additional 497,210 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Arvinas by 167.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,245,449 shares of the company’s stock valued at $190,706,000 after buying an additional 1,405,654 shares during the last quarter. Avidity Partners Management LP increased its stake in Arvinas by 32.6% in the 4th quarter. Avidity Partners Management LP now owns 1,787,358 shares of the company’s stock valued at $151,800,000 after buying an additional 439,058 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Arvinas by 39.7% in the 4th quarter. JPMorgan Chase & Co. now owns 1,612,931 shares of the company’s stock valued at $136,986,000 after buying an additional 458,362 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Arvinas by 17.8% in the 4th quarter. Northern Trust Corp now owns 391,652 shares of the company’s stock valued at $33,264,000 after buying an additional 59,046 shares during the last quarter. Institutional investors and hedge funds own 75.68% of the company’s stock.

About Arvinas

Arvinas, Inc is a biopharmaceutical company, which engages in the discovery, development and commercialization of therapies to degrade disease-causing proteins. Its product candidates are ARV-110, a proteolysis targeting chimera (PROTAC) protein degrader that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer; and ARV-471, a PROTAC protein degrader targeting the estrogen receptor protein for the treatment of patients with metastatic ER positive/HER2 negative breast cancer.

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