Arvinas (NASDAQ:ARVN) Upgraded at Zacks Research

Arvinas (NASDAQ:ARVN) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other equities analysts also recently issued reports on ARVN. Piper Sandler restated an “overweight” rating and set a $20.00 price objective (up from $16.00) on shares of Arvinas in a research report on Wednesday, February 25th. Wall Street Zen downgraded Arvinas from a “hold” rating to a “sell” rating in a research report on Monday, March 2nd. Citigroup raised their price objective on Arvinas from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. BTIG Research raised their price objective on Arvinas from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Finally, Truist Financial set a $10.00 price objective on Arvinas in a research report on Wednesday, March 18th. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.69.

Arvinas Trading Down 0.8%

Arvinas stock opened at $8.85 on Tuesday. The company has a market capitalization of $571.00 million, a PE ratio of -2.67 and a beta of 1.79. Arvinas has a 12 month low of $6.05 and a 12 month high of $14.51. The stock has a 50-day moving average price of $10.30 and a two-hundred day moving average price of $11.64.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Tuesday, May 12th. The company reported ($0.90) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $15.60 million during the quarter, compared to the consensus estimate of $16.61 million. During the same period last year, the company earned $1.14 earnings per share. The business’s quarterly revenue was down 91.7% on a year-over-year basis. As a group, analysts predict that Arvinas will post -2.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arvinas news, Director Briggs Morrison bought 20,000 shares of the stock in a transaction on Friday, March 6th. The stock was acquired at an average cost of $13.40 per share, for a total transaction of $268,000.00. Following the completion of the acquisition, the director owned 96,021 shares in the company, valued at $1,286,681.40. This trade represents a 26.31% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Andrew Saik sold 11,139 shares of Arvinas stock in a transaction that occurred on 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. The trade was a 5.45% decrease in their ownership of the stock. 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. Insiders sold a total of 77,764 shares of company stock valued at $893,872 in the last 90 days. Company insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On Arvinas

Hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its holdings in Arvinas by 491.4% in 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 in the last quarter. Canada Pension Plan Investment Board increased its holdings in Arvinas by 109.4% in 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 in the last quarter. State of Wyoming acquired a new stake in Arvinas in the third quarter valued at approximately $68,000. Abel Hall LLC acquired a new stake in Arvinas in the fourth quarter valued at approximately $125,000. Finally, Corient Private Wealth LLC acquired a new stake in Arvinas in the fourth quarter valued at approximately $127,000. 95.19% of the stock is currently owned by institutional investors.

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.