Arvinas (NASDAQ:ARVN) Shares Gap Down – Should You Sell?

Arvinas, Inc. (NASDAQ:ARVNGet Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $10.51, but opened at $10.02. Arvinas shares last traded at $10.8210, with a volume of 394,353 shares.

More Arvinas News

Here are the key news stories impacting Arvinas this week:

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Citigroup increased their price objective on Arvinas from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Monday. Truist Financial set a $10.00 price objective on Arvinas in a report on Wednesday, March 18th. Wedbush increased their price objective on Arvinas from $9.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Zacks Research cut Arvinas from a “hold” rating to a “strong sell” rating in a report on Monday, April 27th. Finally, Wall Street Zen cut Arvinas from a “hold” rating to a “sell” rating in a report on Monday, March 2nd. Nine investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Arvinas presently has an average rating of “Hold” and an average target price of $14.60.

Read Our Latest Report on ARVN

Arvinas Trading Down 3.3%

The firm has a fifty day simple moving average of $11.47 and a two-hundred day simple moving average of $11.67. The stock has a market cap of $661.98 million, a PE ratio of -8.02 and a beta of 1.79.

Arvinas (NASDAQ:ARVNGet Free Report) last released its quarterly earnings results on Tuesday, February 24th. The company reported ($1.10) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.55). Arvinas had a negative net margin of 30.77% and a negative return on equity of 14.25%. The business had revenue of $9.50 million during the quarter, compared to analysts’ expectations of $37.26 million. During the same period in the previous year, the business earned ($0.63) EPS. The business’s revenue was down 84.0% on a year-over-year basis. Equities analysts forecast that Arvinas, Inc. will post -3.25 earnings per share for the current year.

Insider Transactions at Arvinas

In related news, Director John G. Houston sold 35,297 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $13.21, for a total transaction of $466,273.37. Following the transaction, the director directly owned 1,122,183 shares of the company’s stock, valued at approximately $14,824,037.43. This trade represents a 3.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Andrew Saik sold 5,134 shares of the firm’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $11.89, for a total value of $61,043.26. Following the transaction, the chief financial officer directly owned 159,267 shares in the company, valued at approximately $1,893,684.63. This represents a 3.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 63,864 shares of company stock worth $802,443. 4.73% of the stock is owned by insiders.

Hedge Funds Weigh In On Arvinas

A number of large investors have recently modified their holdings of ARVN. AQR Capital Management LLC purchased a new position in shares of Arvinas during the 1st quarter valued at about $727,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Arvinas during the 1st quarter valued at about $301,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Arvinas by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,636 shares of the company’s stock valued at $271,000 after buying an additional 2,122 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Arvinas by 208.4% during 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 in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Arvinas by 108.3% during 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 in the last quarter. 95.19% of the stock is owned by hedge funds and other institutional investors.

Arvinas Company Profile

(Get Free Report)

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.

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