Arvinas (NASDAQ:ARVN) Reaches New 12-Month Low - Here's What Happened

Arvinas, Inc. (NASDAQ:ARVN - Get Free Report)'s share price reached a new 52-week low during trading on Monday . The stock traded as low as $17.34 and last traded at $17.53, with a volume of 309175 shares traded. The stock had previously closed at $18.62.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ARVN. BTIG Research initiated coverage on shares of Arvinas in a report on Tuesday, December 10th. They set a "buy" rating and a $69.00 target price for the company. Guggenheim reiterated a "buy" rating on shares of Arvinas in a research report on Thursday, December 12th. Oppenheimer lowered their target price on shares of Arvinas from $50.00 to $40.00 and set an "outperform" rating on the stock in a research note on Thursday, October 31st. BMO Capital Markets cut their price target on Arvinas from $90.00 to $88.00 and set an "outperform" rating for the company in a research note on Wednesday, November 20th. Finally, Stephens began coverage on Arvinas in a report on Monday, November 18th. They issued an "overweight" rating and a $55.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.50.

Arvinas Trading Down 3.3 %

The business has a fifty day simple moving average of $22.57 and a two-hundred day simple moving average of $24.86. The company has a market cap of $1.24 billion, a PE ratio of -3.86 and a beta of 1.87.

Arvinas (NASDAQ:ARVN - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($0.88) by $0.20. The business had revenue of $102.40 million during the quarter, compared to analysts' expectations of $60.56 million. During the same period in the prior year, the business posted ($1.18) earnings per share. The business's quarterly revenue was up 196.0% on a year-over-year basis. Equities analysts expect that Arvinas, Inc. will post -3.22 EPS for the current year.

Institutional Investors Weigh In On Arvinas

A number of large investors have recently made changes to their positions in ARVN. nVerses Capital LLC purchased a new position in Arvinas during the third quarter worth approximately $39,000. Quest Partners LLC acquired a new position in shares of Arvinas during the 2nd quarter valued at about $42,000. Amalgamated Bank boosted its position in shares of Arvinas by 29.6% during the 2nd quarter. Amalgamated Bank now owns 2,223 shares of the company's stock valued at $59,000 after acquiring an additional 508 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Arvinas by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company's stock valued at $61,000 after purchasing an additional 440 shares during the period. Finally, Quantbot Technologies LP increased its position in Arvinas by 147.3% during the third quarter. Quantbot Technologies LP now owns 4,367 shares of the company's stock worth $108,000 after purchasing an additional 2,601 shares during the last quarter. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

Arvinas Company Profile

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.