Arvinas (NASDAQ:ARVN) Stock Price Down 4.7%

Arvinas, Inc. (NASDAQ:ARVN)’s stock price dropped 4.7% during mid-day trading on Thursday . The stock traded as low as $34.21 and last traded at $34.25. Approximately 62,384 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 718,374 shares. The stock had previously closed at $35.95.

Analyst Ratings Changes

ARVN has been the topic of a number of recent analyst reports. BMO Capital Markets lifted their price objective on shares of Arvinas from $89.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Truist Financial reissued a “buy” rating and set a $65.00 target price on shares of Arvinas in a research note on Monday, March 25th. Stifel Nicolaus dropped their price target on Arvinas from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. The Goldman Sachs Group started coverage on shares of Arvinas in a research note on Thursday, February 1st. They set a “buy” rating and a $70.00 target price on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $87.00 target price on shares of Arvinas in a report on Friday, May 17th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.13.

Arvinas Trading Down 3.0 %

The business has a fifty day moving average price of $36.26 and a 200 day moving average price of $36.77.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.97) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.45. Arvinas had a negative net margin of 185.09% and a negative return on equity of 64.79%. The firm had revenue of $25.30 million during the quarter, compared to the consensus estimate of $32.94 million. During the same period in the prior year, the firm earned ($1.54) EPS. The business’s revenue was down 22.2% on a year-over-year basis. Equities research analysts anticipate that Arvinas, Inc. will post -4.08 EPS for the current year.

Insider Activity at Arvinas

In other Arvinas news, CFO Sean A. Cassidy sold 1,702 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $47.05, for a total value of $80,079.10. Following the sale, the chief financial officer now owns 181,916 shares of the company’s stock, valued at approximately $8,559,147.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Arvinas news, insider Ronald Peck sold 1,699 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $47.05, for a total value of $79,937.95. Following the sale, the insider now directly owns 67,516 shares in the company, valued at $3,176,627.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sean A. Cassidy sold 1,702 shares of Arvinas stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $47.05, for a total value of $80,079.10. Following the transaction, the chief financial officer now directly owns 181,916 shares of the company’s stock, valued at $8,559,147.80. The disclosure for this sale can be found here. Insiders have sold 8,597 shares of company stock worth $404,489 over the last three months. Company insiders own 5.23% of the company’s stock.

Institutional Investors Weigh In On Arvinas

Hedge funds have recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Arvinas during the first quarter worth about $44,000. McGlone Suttner Wealth Management Inc. bought a new position in Arvinas in the 4th quarter valued at $75,000. Headlands Technologies LLC boosted its stake in Arvinas by 393.4% in the fourth quarter. Headlands Technologies LLC now owns 2,388 shares of the company’s stock worth $98,000 after purchasing an additional 1,904 shares in the last quarter. Personal CFO Solutions LLC bought a new stake in Arvinas during the 4th quarter worth about $206,000. Finally, Exchange Traded Concepts LLC increased its position in Arvinas by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 5,746 shares of the company’s stock valued at $237,000 after acquiring an additional 1,457 shares in the last quarter. Institutional investors and hedge funds 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.