Arvinas (NASDAQ:ARVN) Price Target Lowered to $21.00 at Truist Financial

Arvinas (NASDAQ:ARVN - Free Report) had its price objective decreased by Truist Financial from $65.00 to $21.00 in a research note released on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

ARVN has been the topic of several other research reports. Cantor Fitzgerald reissued an "overweight" rating on shares of Arvinas in a report on Friday, February 7th. Bank of America lowered their target price on Arvinas from $54.00 to $28.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Citigroup cut their price target on shares of Arvinas from $28.00 to $19.00 and set a "neutral" rating for the company in a report on Friday, March 7th. HC Wainwright reaffirmed a "buy" rating and issued a $81.00 price objective on shares of Arvinas in a research note on Monday, April 7th. Finally, Wedbush lowered shares of Arvinas from an "outperform" rating to a "neutral" rating and cut their target price for the company from $57.00 to $12.00 in a research note on Wednesday, March 12th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.53.

Arvinas Stock Up 2.4 %

NASDAQ ARVN traded up $0.17 during trading hours on Wednesday, hitting $7.12. The company had a trading volume of 786,768 shares, compared to its average volume of 1,085,758. The firm has a market cap of $489.66 million, a P/E ratio of -2.57 and a beta of 2.30. Arvinas has a fifty-two week low of $5.94 and a fifty-two week high of $37.38. The business has a fifty day simple moving average of $12.58 and a 200-day simple moving average of $19.15.

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Arvinas (NASDAQ:ARVN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) EPS for the quarter, beating 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 last year, the company earned ($2.53) EPS. Equities analysts forecast that Arvinas will post -3.81 EPS for the current fiscal year.

Insider Buying and Selling at Arvinas

In other Arvinas news, insider Noah Berkowitz sold 8,658 shares of Arvinas stock in a transaction on Tuesday, March 18th. The shares were 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 of the company's stock, valued at $945,097.57. This trade represents a 7.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO John G. Houston sold 31,338 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $16.72, for a total transaction of $523,971.36. Following the transaction, the chief executive officer now owns 1,157,480 shares in the company, valued at approximately $19,353,065.60. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,230 shares of company stock valued at $769,402 in the last 90 days. 5.23% of the stock is currently owned by corporate insiders.

Institutional Trading of Arvinas

A number of institutional investors have recently bought and sold shares of ARVN. JPMorgan Chase & Co. lifted its holdings in shares of Arvinas by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company's stock valued at $57,371,000 after buying an additional 367,343 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Arvinas in the fourth quarter worth approximately $1,534,000. BIT Capital GmbH grew its position in Arvinas by 291.7% in the fourth quarter. BIT Capital GmbH now owns 263,527 shares of the company's stock worth $5,052,000 after acquiring an additional 196,246 shares in the last quarter. Norges Bank bought a new position in shares of Arvinas during the 4th quarter valued at $23,845,000. Finally, SG Americas Securities LLC lifted its stake in shares of Arvinas by 228.8% in the 4th quarter. SG Americas Securities LLC now owns 32,424 shares of the company's stock valued at $622,000 after purchasing an additional 22,564 shares during the last quarter. Institutional investors and hedge funds own 95.19% of the company's stock.

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.