Arvinas (NASDAQ:ARVN - Free Report) had its target price cut by Citigroup from $28.00 to $19.00 in a research note published on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.
ARVN has been the topic of several other reports. HC Wainwright reissued a "buy" rating and issued a $87.00 target price on shares of Arvinas in a report on Wednesday, December 11th. Stifel Nicolaus decreased their price objective on shares of Arvinas from $63.00 to $51.00 and set a "buy" rating on the stock in a research note on Wednesday, February 12th. Guggenheim reissued a "buy" rating and set a $57.00 target price on shares of Arvinas in a research note on Wednesday, February 12th. Oppenheimer increased their price target on Arvinas from $40.00 to $45.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Finally, Stephens started coverage on Arvinas in a research note on Monday, November 18th. They issued an "overweight" rating and a $55.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Arvinas currently has an average rating of "Moderate Buy" and a consensus target price of $56.08.
Check Out Our Latest Research Report on Arvinas
Arvinas Stock Performance
Shares of NASDAQ ARVN traded down $9.06 during midday trading on Friday, reaching $8.50. The company's stock had a trading volume of 12,094,191 shares, compared to its average volume of 1,300,653. The company has a market cap of $584.49 million, a P/E ratio of -3.02 and a beta of 1.95. The business's 50 day moving average price is $18.22 and its two-hundred day moving average price is $22.38. Arvinas has a fifty-two week low of $7.91 and a fifty-two week high of $46.62.
Arvinas (NASDAQ:ARVN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($1.07) by $0.44. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. During the same period in the previous year, the firm posted ($2.53) earnings per share. Sell-side analysts forecast that Arvinas will post -3.81 earnings per share for the current fiscal year.
Insider Buying and Selling at Arvinas
In other Arvinas news, insider Ian Taylor sold 9,020 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.71, for a total transaction of $150,724.20. Following the transaction, the insider now directly owns 159,121 shares in the company, valued at approximately $2,658,911.91. This represents a 5.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John G. Houston sold 31,338 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.72, for a total transaction of $523,971.36. Following the sale, the chief executive officer now directly owns 1,157,480 shares of the company's stock, valued at approximately $19,353,065.60. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,572 shares of company stock valued at $695,030. 5.23% of the stock is currently owned by insiders.
Institutional Trading of Arvinas
Several large investors have recently made changes to their positions in ARVN. GF Fund Management CO. LTD. bought a new position in Arvinas in the fourth quarter worth approximately $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Arvinas by 0.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 433,531 shares of the company's stock worth $8,311,000 after purchasing an additional 3,047 shares during the period. Voloridge Investment Management LLC bought a new position in shares of Arvinas in the 4th quarter worth $749,000. Woodline Partners LP grew its position in Arvinas by 39.2% in the 4th quarter. Woodline Partners LP now owns 692,733 shares of the company's stock valued at $13,280,000 after purchasing an additional 194,996 shares during the period. Finally, Twinbeech Capital LP acquired a new stake in Arvinas in the 4th quarter valued at $3,146,000. 95.19% of the stock is currently owned by institutional investors and hedge funds.
About Arvinas
(
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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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