Arvinas (NASDAQ:ARVN) Shares Down 7.8% – What’s Next?

Arvinas, Inc. (NASDAQ:ARVN)’s share price traded down 7.8% on Thursday . The company traded as low as $12.38 and last traded at $12.43. 237,605 shares were traded during trading, a decline of 70% from the average session volume of 793,523 shares. The stock had previously closed at $13.48.

Wall Street Analyst Weigh In

ARVN has been the subject of a number of research analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $20.00 target price (up from $16.00) on shares of Arvinas in a research report on Wednesday, February 25th. Wall Street Zen downgraded Arvinas from a “hold” rating to a “sell” rating in a research note on Monday, March 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arvinas in a report on Monday, December 22nd. Wedbush upped their price objective on Arvinas from $9.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Finally, Citigroup increased their target price on Arvinas from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Ten research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.65.

Arvinas Price Performance

The company’s 50-day simple moving average is $12.75 and its two-hundred day simple moving average is $11.02. The firm has a market capitalization of $779.03 million, a P/E ratio of -9.52 and a beta of 1.87.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Tuesday, February 24th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.55). The business had revenue of $9.50 million for the quarter, compared to the consensus estimate of $37.26 million. Arvinas had a negative net margin of 30.77% and a negative return on equity of 14.25%. The company’s revenue was down 84.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.63) EPS. Analysts predict that Arvinas, Inc. will post -3.81 earnings per share for the current year.

Insider Activity at Arvinas

In related news, Director Briggs Morrison purchased 20,000 shares of the business’s stock in a transaction on Friday, March 6th. The stock was acquired at an average price of $13.40 per share, with a total value of $268,000.00. Following the completion of the acquisition, the director owned 96,021 shares of the company’s stock, valued at approximately $1,286,681.40. This trade represents a 26.31% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Randy Teel sold 4,786 shares of the company’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $12.16, for a total value of $58,197.76. Following the completion of the sale, the chief executive officer owned 149,696 shares of the company’s stock, valued at approximately $1,820,303.36. The trade was a 3.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 57,429 shares of company stock valued at $731,014 in the last ninety days. Corporate insiders own 4.73% of the company’s stock.

Institutional Investors Weigh In On Arvinas

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARVN. ProShare Advisors LLC raised its stake in Arvinas by 7.2% during the 4th quarter. ProShare Advisors LLC now owns 14,827 shares of the company’s stock worth $176,000 after acquiring an additional 993 shares during the period. Intech Investment Management LLC boosted its position in shares of Arvinas by 3.6% in the third quarter. Intech Investment Management LLC now owns 32,653 shares of the company’s stock worth $278,000 after purchasing an additional 1,125 shares during the period. MetLife Investment Management LLC boosted its position in shares of Arvinas by 4.3% in the fourth quarter. MetLife Investment Management LLC now owns 33,810 shares of the company’s stock worth $401,000 after purchasing an additional 1,381 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Arvinas by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,636 shares of the company’s stock worth $271,000 after purchasing an additional 2,122 shares in the last quarter. Finally, Oxford Asset Management LLP raised its position in shares of Arvinas by 15.5% during the 2nd quarter. Oxford Asset Management LLP now owns 16,705 shares of the company’s stock valued at $123,000 after purchasing an additional 2,242 shares during the period. 95.19% of the stock is owned by hedge funds and other institutional investors.

About Arvinas

Arvinas, Inc (NASDAQ: ARVN) is a biopharmaceutical company focused on the development of therapies based on targeted protein degradation. Utilizing its proprietary proteolysis-targeting chimera (PROTAC®) platform, Arvinas aims to selectively eliminate disease-causing proteins rather than merely inhibit their activity. This novel approach has the potential to address a range of diseases, including oncology, neurodegeneration and inflammation, by harnessing the body’s natural protein-recycling systems.

The company’s most advanced clinical candidates address hormone-driven cancers.