Arvinas (NASDAQ:ARVN) Rating Lowered to “Strong Sell” at Wall Street Zen

Arvinas (NASDAQ:ARVN) was downgraded by investment analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday.

ARVN has been the topic of several other reports. Barclays increased their target price on shares of Arvinas from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Zacks Research raised shares of Arvinas from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. Weiss Ratings upgraded shares of Arvinas from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 13th. Citigroup upped their price objective on shares of Arvinas from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, BTIG Research raised their price objective on Arvinas from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.42.

Arvinas Stock Performance

Arvinas stock opened at $8.01 on Friday. The firm has a market capitalization of $516.81 million, a P/E ratio of -2.41 and a beta of 1.74. The business has a 50-day moving average of $8.30 and a 200-day moving average of $10.62. Arvinas has a 1 year low of $6.05 and a 1 year high of $14.51.

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

Insider Buying and Selling

In other Arvinas news, insider Noah Berkowitz sold 11,108 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $1,902,466.30. This trade represents a 5.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Andrew Saik sold 5,696 shares of Arvinas stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $8.16, for a total transaction of $46,479.36. Following the completion of the transaction, the chief financial officer directly owned 187,432 shares in the company, valued at approximately $1,529,445.12. The trade was a 2.95% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 41,728 shares of company stock valued at $402,649. 7.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arvinas

A number of hedge funds and other institutional investors have recently made changes to their positions in ARVN. ProShare Advisors LLC grew its stake in shares of Arvinas by 7.2% during the 4th quarter. ProShare Advisors LLC now owns 14,827 shares of the company’s stock worth $176,000 after acquiring an additional 993 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of Arvinas by 3.6% in the third quarter. Intech Investment Management LLC now owns 32,653 shares of the company’s stock valued at $278,000 after purchasing an additional 1,125 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of Arvinas by 4.3% in the fourth quarter. MetLife Investment Management LLC now owns 33,810 shares of the company’s stock worth $401,000 after purchasing an additional 1,381 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Arvinas by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,636 shares of the company’s stock worth $271,000 after purchasing an additional 2,122 shares in the last quarter. Finally, Oxford Asset Management LLP boosted its holdings in Arvinas by 15.5% during the second quarter. Oxford Asset Management LLP now owns 16,705 shares of the company’s stock worth $123,000 after purchasing an additional 2,242 shares during the last quarter. 95.19% of the stock is currently owned by institutional investors and hedge funds.

About Arvinas

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.