Arvinas’ (ARVN) “Hold” Rating Reiterated at Truist Financial

Truist Financial restated their hold rating on shares of Arvinas (NASDAQ:ARVN) in a research note released on Monday morning, MarketBeat reports. They currently have a $11.00 price target on the stock, down from their previous price target of $21.00.

A number of other research firms also recently commented on ARVN. Morgan Stanley reduced their price objective on shares of Arvinas from $48.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. BMO Capital Markets set a $20.00 price objective on Arvinas and gave the company an “outperform” rating in a report on Wednesday, March 12th. Piper Sandler reissued an “overweight” rating and issued a $14.00 target price (down from $24.00) on shares of Arvinas in a report on Friday, May 2nd. Oppenheimer lowered Arvinas from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.97.

Arvinas Stock Down 4.5 %

NASDAQ:ARVN opened at $6.64 on Monday. The company’s 50 day moving average is $9.04 and its 200-day moving average is $17.09. Arvinas has a 12 month low of $5.94 and a 12 month high of $37.38. The firm has a market cap of $484.30 million, a price-to-earnings ratio of -2.40 and a beta of 2.21.

Arvinas (NASDAQ:ARVN) last released its earnings results on Thursday, May 1st. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.93) by $2.07. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. During the same period last year, the company posted ($0.97) EPS. Arvinas’s revenue was up 646.2% on a year-over-year basis. Research analysts predict that Arvinas will post -3.81 EPS for the current fiscal year.

Insider Activity at Arvinas

In other news, CEO John G. Houston sold 31,338 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $16.72, for a total value of $523,971.36. Following the completion of the transaction, the chief executive officer now directly owns 1,157,480 shares of the company’s stock, valued at $19,353,065.60. This trade represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Noah Berkowitz sold 8,658 shares of Arvinas stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $8.59, for a total value of $74,372.22. Following the sale, the insider now directly owns 110,023 shares of the company’s stock, valued at $945,097.57. This represents a 7.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,230 shares of company stock worth $769,402. 5.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arvinas

Hedge funds have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. purchased a new stake in Arvinas in the fourth quarter worth approximately $28,000. CWM LLC lifted its holdings in shares of Arvinas by 2,317.5% in the 1st quarter. CWM LLC now owns 7,615 shares of the company’s stock worth $53,000 after acquiring an additional 7,300 shares during the last quarter. KBC Group NV boosted its stake in shares of Arvinas by 77.0% in the 4th quarter. KBC Group NV now owns 2,885 shares of the company’s stock valued at $55,000 after purchasing an additional 1,255 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Arvinas during the 1st quarter valued at $80,000. Finally, Exchange Traded Concepts LLC raised its position in Arvinas by 119.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 14,642 shares of the company’s stock worth $103,000 after purchasing an additional 7,983 shares during the period. Institutional investors own 95.19% of the company’s stock.

Arvinas Company Profile

Arvinas, Inc, a clinical-stage biotechnology company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. The company engineers proteolysis targeting chimeras (PROTAC) targeted protein degraders that are designed to harness the body’s own natural protein disposal system to degrade and remove disease-causing proteins.