Arvinas, Inc. (NASDAQ:ARVN) Given Average Recommendation of “Hold” by Brokerages

Shares of Arvinas, Inc. (NASDAQ:ARVN) have been given an average rating of “Hold” by the thirteen analysts that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $15.4167.

Several equities research analysts have weighed in on the company. Wall Street Zen downgraded Arvinas from a “hold” rating to a “sell” rating in a report on Monday, March 2nd. Stephens reissued an “overweight” rating and issued a $18.00 price target on shares of Arvinas in a report on Wednesday. Citigroup raised their price target on Arvinas from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, May 4th. BTIG Research raised their price target on Arvinas from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Finally, Truist Financial set a $10.00 price target on Arvinas in a report on Wednesday, March 18th.

Insiders Place Their Bets

In other Arvinas news, CFO Andrew Saik sold 11,139 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $9.94, for a total value of $110,721.66. Following the completion of the sale, the chief financial officer owned 193,128 shares of the company’s stock, valued at approximately $1,919,692.32. This trade represents a 5.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Noah Berkowitz sold 11,108 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $9.94, for a total value of $110,413.52. Following the completion of the sale, the insider directly owned 191,395 shares of the company’s stock, valued at approximately $1,902,466.30. This represents a 5.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 42,467 shares of company stock valued at $427,598. 7.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arvinas

Several institutional investors have recently added to or reduced their stakes in ARVN. Tower Research Capital LLC TRC lifted its holdings in shares of Arvinas by 491.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock worth $43,000 after purchasing an additional 4,835 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of Arvinas by 109.4% during the second quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock worth $49,000 after purchasing an additional 3,500 shares during the period. State of Wyoming acquired a new stake in shares of Arvinas during the third quarter worth about $68,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Arvinas during the third quarter worth about $92,000. Finally, Jain Global LLC acquired a new stake in shares of Arvinas during the third quarter worth about $95,000. Institutional investors and hedge funds own 95.19% of the company’s stock.

Arvinas Price Performance

Shares of ARVN stock opened at $7.74 on Friday. Arvinas has a 1-year low of $6.05 and a 1-year high of $14.51. The stock’s 50-day moving average is $9.99 and its 200 day moving average is $11.54. The company has a market cap of $499.39 million, a P/E ratio of -2.33 and a beta of 1.74.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data 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. 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 for the quarter, compared to the consensus estimate of $16.61 million. During the same quarter last year, the company earned $1.14 earnings per share. The firm’s revenue for the quarter was down 91.7% compared to the same quarter last year. On average, analysts anticipate that Arvinas will post -2.83 EPS for the current year.

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.