Arvinas, Inc. (NASDAQ:ARVN – Get Rating) gapped up before the market opened on Thursday . The stock had previously closed at $45.55, but opened at $46.69. Arvinas shares last traded at $44.50, with a volume of 16 shares.
Analyst Ratings Changes
A number of equities research analysts have recently commented on ARVN shares. Oppenheimer lowered their price target on shares of Arvinas from $108.00 to $102.00 and set an "outperform" rating for the company in a report on Monday, August 8th. SVB Leerink lowered their price target on shares of Arvinas from $91.00 to $89.00 and set an "outperform" rating for the company in a report on Friday, August 5th. HC Wainwright lowered their price target on shares of Arvinas from $135.00 to $90.00 and set a "buy" rating for the company in a report on Friday, August 5th. Jefferies Financial Group assumed coverage on shares of Arvinas in a report on Tuesday, June 21st. They set a "hold" rating and a $42.00 price target for the company. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Arvinas in a report on Wednesday, September 21st. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $82.13.
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Arvinas Price Performance
The business's 50-day moving average price is $48.05 and its 200 day moving average price is $50.92. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of -9.98 and a beta of 2.06.
Arvinas (NASDAQ:ARVN – Get Rating) last posted its earnings results on Thursday, August 4th. The company reported ($1.32) EPS for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.30). Arvinas had a negative return on equity of 31.16% and a negative net
margin of 255.97%. The firm had revenue of $31.30 million for the quarter, compared to analyst estimates of $23.71 million. During the same period in the previous year, the firm posted ($1.03) earnings per share. The company's revenue for the quarter was up 469.1% on a year-over-year basis. As a group, sell-side analysts expect that Arvinas, Inc. will post -4.74 earnings per share for the current year.
Insider Activity at Arvinas
In related news, insider Ronald Peck sold 1,258 shares of the company's stock in a transaction on Friday, August 12th. The shares were sold at an average price of $68.99, for a total value of $86,789.42. Following the sale, the insider now directly owns 8,154 shares of the company's stock, valued at $562,544.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.78% of the stock is currently owned by corporate insiders.
Institutional Trading of Arvinas
Institutional investors have recently added to or reduced their stakes in the stock. SeaCrest Wealth Management LLC acquired a new stake in shares of Arvinas during the second quarter worth $57,000. Lazard Asset Management LLC acquired a new stake in shares of Arvinas during the first quarter worth $57,000. Amundi acquired a new stake in shares of Arvinas during the second quarter worth $62,000. Federated Hermes Inc. raised its holdings in shares of Arvinas by 80,650.0% during the second quarter. Federated Hermes Inc. now owns 1,615 shares of the company's stock worth $68,000 after purchasing an additional 1,613 shares during the period. Finally, Virtus ETF Advisers LLC raised its holdings in shares of Arvinas by 22.7% during the second quarter. Virtus ETF Advisers LLC now owns 2,880 shares of the company's stock worth $121,000 after purchasing an additional 532 shares during the period. 91.20% of the stock is owned by institutional investors and hedge funds.
About Arvinas
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Arvinas, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its lead product candidates include Bavdegalutamide, a proteolysis targeting chimera (PROTAC) protein degrader that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer (mCRPC); ARV-471, a PROTAC protein degrader targeting the estrogen receptor protein for the treatment of patients with metastatic ER positive/HER2 negative breast cancer; and ARV-766 an investigational orally bioavailable PROTAC protein degrader for the treatment of men with mCRPC.
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