Arvinas (NASDAQ:ARVN) Downgraded to Hold Rating by Leerink Partnrs

Leerink Partnrs downgraded shares of Arvinas (NASDAQ:ARVN) from a strong-buy rating to a hold rating in a research note released on Sunday morning,Zacks.com reports.

A number of other research analysts also recently issued reports on ARVN. Wedbush downgraded Arvinas from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $57.00 to $12.00 in a report on Wednesday, March 12th. BTIG Research set a $16.00 price target on Arvinas and gave the stock a “buy” rating in a research report on Friday, May 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a research note on Friday, February 7th. Truist Financial restated a “hold” rating and set a $11.00 target price (down previously from $21.00) on shares of Arvinas in a report on Monday, May 5th. Finally, The Goldman Sachs Group lowered their price target on shares of Arvinas from $12.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.29.

Arvinas Stock Up 1.8%

Shares of NASDAQ:ARVN opened at $7.33 on Friday. The firm has a market cap of $535.02 million, a price-to-earnings ratio of -2.65 and a beta of 2.21. Arvinas has a 12 month low of $5.90 and a 12 month high of $34.11. The company’s fifty day simple moving average is $7.31 and its 200 day simple moving average is $14.45.

Arvinas (NASDAQ:ARVN) last released its earnings results on Thursday, May 1st. The company reported $1.14 earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the firm posted ($0.97) earnings per share. The business’s quarterly revenue was up 646.2% compared to the same quarter last year. Research analysts expect that Arvinas will post -3.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Arvinas

In other news, insider Noah Berkowitz sold 8,658 shares of Arvinas stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $8.59, for a total transaction of $74,372.22. Following the completion of the transaction, the insider now directly owns 110,023 shares in the company, valued at approximately $945,097.57. The trade was a 7.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.73% of the company’s stock.

Institutional Investors Weigh In On Arvinas

Large investors have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. acquired a new stake in Arvinas during the 4th quarter valued at $28,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Arvinas by 965.4% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,656 shares of the company’s stock worth $33,000 after buying an additional 4,219 shares during the last quarter. CWM LLC boosted its holdings in shares of Arvinas by 2,317.5% during the 1st quarter. CWM LLC now owns 7,615 shares of the company’s stock worth $53,000 after buying an additional 7,300 shares during the period. KBC Group NV boosted its holdings in shares of Arvinas by 77.0% during the 4th quarter. KBC Group NV now owns 2,885 shares of the company’s stock worth $55,000 after buying an additional 1,255 shares during the period. Finally, Aigen Investment Management LP acquired a new position in Arvinas in the 1st quarter valued at about $77,000. Institutional investors own 95.19% of the company’s stock.

About Arvinas

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.