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

Wall Street Zen upgraded shares of Arvinas (NASDAQ:ARVN) from a strong sell rating to a sell rating in a research note issued to investors on Sunday morning.

Several other research firms have also weighed in on ARVN. 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. BTIG Research boosted their price target on shares of Arvinas from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Zacks Research upgraded shares of Arvinas from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Stephens reaffirmed an “overweight” rating and set a $18.00 price objective on shares of Arvinas in a research note on Wednesday, June 3rd. Finally, Weiss Ratings raised Arvinas from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 13th. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Arvinas currently has an average rating of “Hold” and an average target price of $15.42.

Arvinas Stock Performance

Arvinas stock opened at $8.03 on Friday. The firm has a market capitalization of $518.10 million, a P/E ratio of -2.42 and a beta of 1.74. Arvinas has a 1 year low of $6.05 and a 1 year high of $14.51. The business has a 50-day moving average of $8.16 and a 200-day moving average of $10.49.

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

Insider Buying and Selling at Arvinas

In other Arvinas news, insider Noah Berkowitz sold 11,108 shares of Arvinas stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $9.94, for a total value of $110,413.52. Following the transaction, the insider owned 191,395 shares of the company’s stock, valued at approximately $1,902,466.30. The trade was a 5.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Andrew Saik sold 11,139 shares of the company’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 $110,721.66. Following the completion of the transaction, the chief financial officer owned 193,128 shares of the company’s stock, valued at $1,919,692.32. This trade represents a 5.45% decrease in their position. The SEC filing for this sale provides additional information. 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 valued at $402,649. 7.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Arvinas

Several hedge funds and other institutional investors have recently modified their holdings of ARVN. AQR Capital Management LLC bought a new stake in shares of Arvinas in the first quarter valued at about $727,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Arvinas during the first quarter worth about $301,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Arvinas by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,636 shares of the company’s stock worth $271,000 after buying an additional 2,122 shares in the last quarter. Millennium Management LLC raised its position in Arvinas by 208.4% in the 1st quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock valued at $9,198,000 after buying an additional 885,483 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Arvinas by 108.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 902,925 shares of the company’s stock valued at $6,339,000 after buying an additional 469,394 shares during the last quarter. Institutional investors and hedge funds own 95.19% of the company’s stock.

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.