Arvinas, Inc. (NASDAQ:ARVN - Get Free Report)'s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $7.83 and last traded at $7.85, with a volume of 677217 shares changing hands. The stock had previously closed at $7.95.
Analyst Ratings Changes
A number of brokerages have recently issued reports on ARVN. Guggenheim cut their target price on Arvinas from $57.00 to $32.00 and set a "buy" rating for the company in a research note on Thursday, March 13th. BMO Capital Markets set a $20.00 target price on Arvinas and gave the company an "outperform" rating in a report on Wednesday, March 12th. Wedbush cut shares of Arvinas from an "outperform" rating to a "neutral" rating and lowered their price target for the stock from $57.00 to $12.00 in a research note on Wednesday, March 12th. Wells Fargo & Company set a $26.00 price target on shares of Arvinas and gave the company an "overweight" rating in a report on Wednesday, March 12th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Arvinas in a report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.50.
View Our Latest Stock Analysis on ARVN
Arvinas Trading Down 7.5 %
The company has a market capitalization of $482.78 million, a price-to-earnings ratio of -2.53 and a beta of 1.95. The company's 50 day simple moving average is $15.27 and its 200-day simple moving average is $20.64.
Arvinas (NASDAQ:ARVN - Get Free Report) last released its earnings results on Tuesday, February 11th. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($1.07) by $0.44. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same period in the previous year, the company posted ($2.53) earnings per share. Sell-side analysts anticipate that Arvinas, Inc. will post -3.81 EPS for the current year.
Insiders Place Their Bets
In other news, insider Noah Berkowitz sold 8,658 shares of the business's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $8.59, for a total transaction of $74,372.22. Following the completion of the sale, the insider now owns 110,023 shares in the company, valued at approximately $945,097.57. The trade was a 7.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ian Taylor sold 9,020 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $16.71, for a total transaction of $150,724.20. Following the completion of the transaction, the insider now owns 159,121 shares in the company, valued at $2,658,911.91. The trade was a 5.36 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,230 shares of company stock valued at $769,402. Insiders own 5.23% of the company's stock.
Institutional Investors Weigh In On Arvinas
Institutional investors have recently bought and sold shares of the business. Intech Investment Management LLC acquired a new position in shares of Arvinas during the 3rd quarter valued at $350,000. FMR LLC lifted its stake in shares of Arvinas by 7.6% during the third quarter. FMR LLC now owns 2,883,604 shares of the company's stock worth $71,023,000 after purchasing an additional 204,317 shares in the last quarter. Quantbot Technologies LP boosted its position in shares of Arvinas by 147.3% in the third quarter. Quantbot Technologies LP now owns 4,367 shares of the company's stock worth $108,000 after buying an additional 2,601 shares during the period. PEAK6 Investments LLC raised its holdings in shares of Arvinas by 42.9% during the 3rd quarter. PEAK6 Investments LLC now owns 15,000 shares of the company's stock valued at $369,000 after buying an additional 4,500 shares during the period. Finally, Wasatch Advisors LP lifted its position in Arvinas by 58.3% during the 3rd quarter. Wasatch Advisors LP now owns 435,943 shares of the company's stock worth $10,737,000 after acquiring an additional 160,510 shares in the last quarter. 95.19% of the stock is currently owned by hedge funds and other institutional investors.
About Arvinas
(
Get Free Report)
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.
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